Turkey increases private foreign debt by $824 million

The Central Bank of Turkey said that the private foreign debt increased by $824 million in August 2012, compared with the same month in 2011, and reached $126.5 billion.

Non-financial organizations reduced their debt by $188 million to $21.6 billion.

59.9% of Turkish private foreign debt was in dollars, 34.7% in euro and 5.4% in other foreign currencies. 60% of loans were spent on services, 32% on production and 0,8% on agriculture.

Foreign bank loans and non-bank financial organizations dropped by 2.3%.

Adapted from Vestnik Kavkaza