Deficit of Turkey’s international investment position increases by 9 per cent

Business Materials 19 September 2012 20:39

Azerbaijan, Baku, Sept. 19 / Trend A. Taghiyeva /

The deficit of Turkey's international investment position, reflecting the accumulated stocks of external financial assets and liabilities of the country for a certain period, increased in July by 8.9 per cent and hit $ 377 billion compared to the same month of 2011, the Turkish Central Bank said on Wednesday.

In June, the figure was $ 370 billion.

Turkey's reserve assets in July rose by 7.3 per cent in annual calculation, reaching $190.8 billion.

During the year Turkey's promissory note abroad increased by 13.5 per cent to $ 568.1 billion.

Turkey's portfolio investments in July rose by $31.9 billion and amounted to $166.3 billion compared to the same period of last year. Capital reserves of non-residents rose by 38 per cent to $ 54 billion.

Turkey's other international investments, not included in direct and portfolio investments, increased during the year by $ 9.4 billion, amounting to $93.3 billion.

The government's deposits in foreign currency for the period decreased by 13.6 per cent to $ 22.5 billion. The deposits in lira increased by 32 per cent, reaching $21.6 billion.