The Turkish private sector’s outstanding loans received from abroad decreased in January from the end of 2019, the Central Bank of the Republic of Turkey (CBRT) said Monday.

The sector's long-term debts totaled $189.8 billion as of January, a fall of $1.8 billion from the end of last year, the bank said in a statement.

It noted that 46.1% of the long-term debts in the month were held by financial institutions.

Some 61.7% of Turkish private sector long-term debt was in U.S. dollars, with 32.9% in euros, 3.7% in Turkish liras and 1.7% in other currencies.

The sector's short-term loans – debt that must be paid in the next 12 months – also went down $1.1 billion to $8.4 billion in the same period.

Financial institutions held 77.9% of the short-term loans, while 22.1% consisted of liabilities of non-financial institutions. "Regarding the currency composition of the total short-term loans, 44.9% consists of U.S. dollars, 32% consists of euros, 22.4% consists of Turkish liras and 0.7% consists of other currencies," it added.