The Turkish private sector’s total outstanding loans received from abroad totaled $165.7 billion as of March, indicating an increase of $1.7 billion in comparison to the end of 2023, official data showed on Thursday.

The long-term loans amounted to $155.3 billion as of March, up by $452 million versus the end of the last year, the data from the Central Bank of the Republic of Türkiye (CBRT) showed.

The short-term debts (excluding trade credits) were realized at $10.4 billion, up by $1.3 billion, over the same period, according to CBRT.

Banks’ long-term loan liabilities decreased by $169 million, whereas bond liabilities amounted to $17.1 billion, increasing by $2.3 billion when compared to the end of 2023.

Non-financial institutions’ loan liabilities, on the other hand, recorded a decrease of $1.1 billion in comparison to the end of 2023, whereas bond liabilities amounted to $10.1 billion, decreasing by $20 million as of March, said the central bank.

Regarding short-term loans, banks’ loan liabilities realized as $5.1 billion, increasing by $619 million while non-financial institutions’ loan liabilities realized as $1.4 billion, decreasing by $212 million in comparison to the end of 2023.

The data indicated that 58.5% of the long-term loans were in the U.S. dollar, 35.3% in Euro, 2.2% in Turkish lira and 4% in other currencies, while 48% of the short-term loans were in the U.S. dollar, 26.8% in Euro, 20.5% in Turkish lira and 4.7% in other currencies.

The private sector’s total outstanding loans received from abroad based on a remaining maturity basis point out to principal repayments in the amount of $51.1 billion for the next 12 months by the end of March, according to the monetary authority.