Turkey's short-term foreign debt up 8.2%

Turkey's short-term foreign debt stock increased by 8.2 percent and reached $109.3 billion at the end of February 2013 compared to the end of 2012. According to a statement released by the Central Bank of Turkey on Wednesday, Turkey's short-term foreign debt stock increased by 8.2 percent and reached 109.3 billion USD at the end of February 2013 compared to the end of 2 Central Bank stated that short-term foreign exchange loans of the banks received from abroad increased 11.7 percent to $32.7 billion whereas foreign exchange deposits of non-residents within resident banks increased 1.4 percent to 8.9 billion USD in comparison to the end of 2012. Bank deposits reached $21.9 billion, reflecting an increase of 18 percent compared to the end of 2012. On the other hand, non-residents' Turkish lira deposits noted $10.3 billion indicating 11.6 percent decrease in comparison to the end of 2012. As of the end of February 2013, the currency composition of short-term external debt stock noted as 53 percent USD, 31.4 percent Euro, 13.7 percent Turkish Lira and 1.9 percent other currencies.