The international investment position gap was $294.6 billion in May
The Central Bank of the Republic of Turkey (CBRT) announced the International Investment Position (IIP) data for May 2023.
Consequently, as of the end of May 2023, Turkey’s external assets decreased by 7.5% compared to the end of 2022 to $285.1 billion, while its liabilities decreased by 5% to $579.8 billion.
The net IIP, which is defined as the difference between Turkey’s external assets and its liabilities abroad, was -301.8 billion USD at the end of 2022, while it registered at the level of -294.6 billion USD at the end of 2022. May 2023.
24.6 PERCENT DECREASE IN RESERVE ASSETS
When the subheadings of assets are analyzed, the reserve assets heading decreased by 24.6 percent compared to the end of 2022 and amounted to 97.100 million dollars, while the heading of other investments increased by 4.5 percent to 126.200 million dollars.
Banks’ foreign currency and Turkish lira cash and deposits, which are among the other investment subheadings, rose 13.9 percent to $51.2 billion.
CURRENCY EFFECT ON DIRECT INVESTMENTS
When the liability subheadings are analyzed, direct investments (capital and other capital) decreased 22.7 percent compared to the end of 2022 and fell to 146.5 billion dollars due to the variations in market value and interest rates. change.
Portfolio investments decreased 6.3 percent compared to the end of 2022 and reached 87.4 billion dollars.
While the stock of non-resident shares decreased by 20.5 percent compared to the end of 2022 to $22.9 billion, the stock of GDDS owned by non-residents decreased by 12.4 percent to $1.1 billion. US dollars, the stock of Treasury bonds (by resident nationals) after deducting the stock of purchased bonds) rose 7.0 percent to $44.9 billion.
In the same period, other investments increased 5.6 percent compared to the end of 2022 and reached 345.9 billion dollars.
THE BANK’S STOCK OF LOANS INCREASED 3.8 PERCENT
Non-resident foreign currency deposits in domestic banks decreased 2 percent compared to the end of 2022 and became $40.8 billion, while TL deposits increased 22.6 percent to $17.3 billion.
While banks’ total loan stock increased 3.8 percent to $59.2 billion, other sectors’ total loan stock increased 0.8 percent to $101 billion.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
