The Central Bank of the Republic of Türkiye (CBRT) Financial Accounts Report for the third quarter of 2024 has been released.
According to the report, the total financial assets of the domestic and resident sector in the third quarter of 2024 were 114 trillion lira and liabilities were 123 trillion lira.
The ratio of the net financial deficit of the Turkish economy to gross domestic product (GDP) decreased by 6 points compared to the previous period and reached 23.3 percent.
Looking at net financial transactions across sectors, the overall economy, which was a net lender of 0.11 percent of GDP in the previous quarter, recorded net debt of 3.4 percent of GDP this quarter.
When examining the sectoral financial balance sheets of the domestic economy, it was found that the economy as a whole was in a financial debt position, private households and the rest of the world were creditors from other domestic sectors, and non-financial institutions and the state were in a debtor position to other sectors.
Financial institutions, on the other hand, created an almost balanced net financial position due to their role as financial intermediaries.
When it comes to financial assets of private households, money and deposit items stand out with a share of around 60 percent, while the liabilities are almost exclusively loans.
Of the financial assets and liabilities of non-financial institutions, other receivables and other liabilities from commercial transactions between companies accounted for 64 percent and 49 percent, respectively.
When comparing the debt ratios of all sectors with other countries, it was shown that the total debt of the sectors located in Turkey was at a low level. The ratio of total debt in the form of loans and bonds to GDP fell by 92 percent in the third quarter of 2024 compared to the previous quarter.
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