Turkey's overseas liabilities decreased by 5.4 percent to $631.4 billion in May compared to the end of 2014, the Central Bank of the Republic of Turkey (CBRT) announced on Wednesday. The bank said in a statement that the country's assets abroad increased by 0.8 percent in May 2015 to reach $232.3 billion compared to the end of 2014, according to International Investment Position figures. The net international investment position, which is defined as the gap between Turkey's assets abroad and liabilities, was -$399.1 billion in May 2015, a reduction from -$436.8 billion at the end of 2014. Banks' total external loan stock decreased 2.9 percent and fell to $91.8 billion at the end of May 2015, while total external loan stock of other businesses decreased by 2.5 percent to $91.3 billion during the same period.
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