Central Bank data showed that the total financial debt of the real sector exceeded 10 trillion liras, and foreign exchange open positions decreased to 74 billion dollars as of August.
The last August 2023 data announced by the Central Bank (CBRT) showed that the financial indebtedness of companies outside the financial sector (real sector) continued to decline due to the decrease in the foreign currency debt ratio. According to the report, while the ratio of companies’ TL and foreign currency debts to national income decreased, low financing costs throughout 2022 also led to a decrease in the debt burden of companies.
The report emphasized that the monetary tightening process that started in June balanced credit growth. The report noted that the total financial debts of the real sector, which was 9 trillion 783 billion TL in June 2023, reached 10 trillion 132 billion TL as of August 2023.
OPEN POSITION DECREASED
Accordingly, the real sector’s foreign currency loans decreased from 219.1 billion dollars to 216.3 billion dollars. Total foreign currency loans of the real sector will be 248 billion by the end of 2021 dollar was at the level. In the report, which emphasizes that the decreasing trend in the real sector’s foreign exchange open position continues, it is underlined that the net foreign exchange open position of companies decreased by 99 billion dollars compared to the end of 2018 and by 45 billion dollars compared to the end of 2021. “This trend continued in 2023 and the foreign exchange (foreign exchange) open position “As of August, it decreased to 74 billion dollars.”
23 thousand companies have foreign currency debt
In addition to the decrease in foreign currency loan balance, the Central Bank also found that the number of companies with foreign currency debt decreased. According to the data, 23 thousand companies have foreign exchange risk. This number was at 26 thousand 400 at the end of 2021. It was announced that the loan balance of companies with a foreign exchange risk of less than 15 million dollars decreased to 22.1 billion dollars as of September 2023, and the loan balance of companies with a foreign exchange risk of more than 15 million dollars decreased to 156.9 billion dollars. As of the latest data, there are 21 thousand 600 companies in the group below the 15 million dollar limit, and 1,400 companies in the group above 15 million dollars.