Deficit of Turkey’s international investment position increases

Business Materials 19 October 2012 16:21 (UTC +04:00)

Azerbaijan, Baku, Oct. 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 August by 5.7 per cent and hit $ 379.2 billion compared to the same month of 2011, the Turkish Central Bank said today.

Turkey's reserve assets in August rose by 11.5 per cent in annual calculation, reaching $198.3 billion.

During the year Turkey's debt obligations abroad increased by 15.5 per cent to $ 577.8 billion.

Turkey's portfolio investments in August rose by $34.9 billion and amounted to $210.3 billion compared to the same period of last year. Capital reserves of non-residents rose by 38 per cent to $ 67 billion.

Turkey's other international investments, not included in direct and portfolio investments, increased during the year by $ 2.1 billion, amounting to $98 billion.

The government's deposits in foreign currency for the period decreased by 20 per cent to $ 16.7 billion. The deposits in lira increased by 18.2 per cent, reaching $21.3 billion.