Net investment position improves in March
Turkey’s net international investment position (NIIP) performed better in March, rising 5.4 percent compared to the end of last year, according to Turkish Central Bank (CBRT) on May 20. The NIIP, the difference between a country’s external assets and liabilities, totaled minus $337.1 billion as of March-end, up from minus $356.2 at the end of 2018, the CBRT reported. Turkey’s assets abroad increased by 4.6 percent to hit $241.7 billion during the same period. Country’s liabilities against non-residents was around $578.8 billion in March, down 1.5 percent from the end of last year. Turkey’s reserve assets rose 3.5 percent to reach $96.3 billion, while other investment stood at $92.3 billion, indicating a rise of 7.4 percent in the same period. As sub-items of other investments, currency, and deposits of banks amounted to $51.4 billion, increasing 15 percent compared to the end of 2018. The total external loan stock of lenders went down to $78.1 billion as of March-end, falling 4.2 percent from the end of last year. “Total external loan stock of other sectors recorded $104.4 billion, decreasing by 2.4 percent,” the Bank added.