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External debt of Turkey’s private sector increases

Business Materials 17 April 2012 17:07 (UTC +04:00)

Azerbaijan, Baku, April 17 / Trend A.Taghieva /

The external debt of the private sector of Turkey in February 2012 increased by 6.3 percent, compared to the same month in 2011, amounting to $28.8 billion, a report of the Central Bank of Turkey said on Tuesday.

According to the report, external borrowings of banks and non-bank financial institutions grew by five per cent, amounting to $26.2 billion.

Debts of the private sector to non-financial institutions in February 2012 rose by 21.2 percent, amounting to $2.16 billion.

Some 59.6 per cent of total external debt of the private sector of Turkey was drawn in dollars, 35.7 per cent - the euro and 4.7 percent - in other foreign currencies.

Some 57 percent of external debt was directed to the service sector, 42.2 percent - production sector and 0.8 percent - agricultural sector.

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