Ford drives hike in car production in Romania
2 days ago
The gross debt stock of Turkey's central government contracted by 3% m/m to stand at Turkish lira (TRY) 1.12tn (€153bn) in September thanks to a rally in the local currency, the Treasury said on October 22.
Annual growth in the government’s gross debt stock declined to 33% in the month from 41% in August, which was the highest rate recorded since March 2003. The TRY saw all-time weak levels in August but it has since followed a path of recovery.
The gross debt stock was TRY760bn at end-2016 and TRY876bn at end-2017.
The government’s domestic debt stock rose by 1% m/m to TRY587bn in September, while the external debt stock contracted by 7% m/m to TRY534bn thanks to the strengthening lira.
Turkey’s net public debt stock rose by 29% y/y and 13% q/q to TRY306bn as of the end of June, the highest level registered since Q1 2011, the Treasury said on September 28.
The EU-defined general government debt stock rose by 23% y/y and 7% q/q to reach TRY990bn at the end of June. That parameter rose by 19% y/y to TRY878bn at the end of 2017.
The EU-defined debt stock to GDP ratio edged up to 29.2% at the end of June, the highest level since Q3 2014. The ratio stood at 28.4% at the end of 2017.
The government expects the EU-defined debt stock to GDP ratio to rise to 31.1% in 2018 from 28.3% in 2017, according to the latest medium-term programme.
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