Forex loans to Turkey’s non-financial companies increase

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Domestic loans and external loans increased $1.8 billion and $521 million respectively.

ANKARA – Loans in foreign currencies to non-financial companies in Turkey increased $1.8 billion, for domestic loans and $521 million for external loans respectively in February, the Turkish central bank said in a statement on Monday.

As the value of the Turkish lira has declined by about 10 percent this year against the dollar, this burden of forex loans become harder to service.

Turkish non-financial companies’ net foreign exchange position increased by $1.3 billion reaching a deficit of $177.8 billion in February.

Foreign exchange assets of non-financial companies rose $26 million in February compared with the previous month, and reached $98.9 billion.

Liabilities of non-financial companies’ also rose to $276.8 billion from 275.5 billion in the previous month, an increase of $1.292 billion in February.

But Import Payables also decreased from 26.8 billion to 25.8 billion in the month.

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