GROSS EXTERNAL DEBT STOCK AT USD 442BN

The country’s gross external debt stock surged by USD 8.2bn to over USD 441bn in 2021, compared to the previous year, according to the Ministry of Treasury and Finance. USD 1.4bn of the surge stemmed from public sector debt, while USD 4.7bn was the Central Bank’s debt, and USD 2bn of the increase arose from private sector debt. The gross external debt stock, which broke a record at USD 452.6bn in the third quarter, dropped by USD 11.5bn in the last quarter of 2021. The 2021 reading was 54.9% of the country’s gross domestic product (GDP). The European Union (EU)-defined general government debt stock of the country was some TRY 3.02tr or 42% of its GDP. The public net debt stock reached TRY 1.4tr, or 20.5% of the country’s GDP, last year.