The debt burden of the real sector exceeded 10 trillion
The latest data for August 2023 announced by the Central Bank (CBRT) showed that the financial debt of companies outside the financial sector (real sector) continued to decline with the effect of the decrease in the foreign currency debt ratio. According to the report, while the ratio of companies’ Turkish lira and foreign currency debts to national income decreased, low financing costs throughout 2022 also led to a decrease in companies’ debt burden. companies.
The report emphasized that the monetary adjustment process that began in June balanced credit growth. The report notes that the total financial debt of the real sector, which amounted to 9 trillion 783 billion TL in June 2023, reached 10 trillion 132 billion TL in August 2023.
DECREASED OPEN POSITION
Consequently, real sector foreign currency loans decreased from $219.1 billion to $216.3 billion. Total real sector foreign currency loans at the end of 2021 amounted to $248 billion. The report, which highlights that the decreasing trend in the real sector’s open foreign exchange position continues, highlights that the net open foreign exchange position of companies decreased by 99 billion dollars compared to the end of 2018 and by 45 thousand million dollars compared to the end of 2021. “This trend continued in 2023 and the open position in foreign exchange (forex)” as of August, decreased to 74 billion dollars.
23 thousand companies have debt in foreign currency
In addition to the decrease in the balance of loans in foreign currency, the Central Bank also found that the number of companies with debt in foreign currency decreased. According to the data, 23 thousand companies have currency risk. This number remained at 26,400 at the end of 2021. It was announced that the credit balance of companies with exchange risk of less than 15 million dollars decreased to 22.1 billion dollars as of September 2023, and the credit balance of companies with exchange risk greater than 15 million dollars decreased to 156.9 billion dollars. According to the latest data, there are 21,600 group companies below the limit of 15 million US dollars and 1,400 group companies above 15 million US dollars.