Turkish economy’s financial assets amount $2.5 trillion in Q2

Dunya Executive - - OVERVIEW -

The Turk sh economy’s f nanc al assets amounted to TRY 11.6 tr ll on (around $2.5 tr ll on) as of the second quarter of 2018, the Turk sh Central Bank (CBRT) announced on October 23. At the end of June, Turkey’s l ab l t es totaled TRY 13.4 tr ll on (approx mately $2.9 tr ll on), the Bank sa d n ts F nanc al Accounts Report. Includ ng all f nanc al corporat ons, households, general government, and non-f nanc al corporat ons n the Turk sh economy, the country created a net l ab l ty of TRY 1.83 tr ll on (some $396 b ll on) to the rest of the world n the Apr l-June per od. One U.S. dollar traded for 4.62 Turk sh l ras at the end of June 2018. Off c al f gures showed that the rest of the world and household sectors were the largest contr butors to the f nanc ng of the domest c economy n Turkey. The rat o of res dent sectors’ f nanc al accounts-def ned total debt - the sum of the loans they use and the debt secur t es they ssue - to GDP was 149 percent n the second quarter of 2018, wh le the f gure was 147 percent n the same per od last year.

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