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(0312) 204 61 76(0312) 204 60 73(0312) 204 62 90

PRINTED ATREPUBLIC of TURKEY MINISTRY of

TREASURY and FINANCE.

No: 175

FEBRUARY 2020

2020 Financing Program ..................................... 1

Budget Realizations ............................................ 2

Treasury Cash Balance ........................................ 4

Domestic Debt ................................................... 5

External Debt ................................................... 10

Debt Stock ....................................................... 14

Treasury Guaranteed External Debt ................... 19

Treasury Non-Guaranteed External Debt ............ 23

Treasury Receivables ........................................ 23

Developments in the Credit Rating of Turkey ..... 26

Domestic Borrowing Calendar ........................... 27

Data Dissemination Calendar ............................ 28

ANNEX ............................................................ 29

REPUBLIC of TURKEYMINISTRY of TREASURY

and FINANCE

FEBRUARY 2020

PUBLIC DEBT MANAGEMENT REPORT

FEBRUARY 2020 1 MINISTRY of TREASURY and FINANCE

2020 FINANCING PROGRAM

PROGRAM AND REALIZATIONS (1)

Billion ¨Program Realization

January - December January

I-TOTAL DEBT SERVICE 352.1 25.3

Domestic Debt Service 287.0 23.7

Principal 186.5 17.3

Interest 100.5 6.4

External Debt Service 65.1 1.6

Principal 36.1 0.4

Interest 29.0 1.2

II-FINANCING 352.1 25.3

Other Financing (2) -5.1 2.4

Total Borrowing 357.2 22.9

External Borrowing 57.6 0.0

Domestic Borrowing 299.6 22.9

Memo (Billion ¨) 134.6 5.2

Net Borrowing 113.1 5.6

Net Domestic Borrowing 21.5 -0.4

Net External Borrowing 9.8 27.8

(1) Cash based.

(2) The cash primary balance, privatization revenues, receipts from on lending and guaranteed debt, reciepts from SDIF, use of cash account and FX changes are shown under other financing item.

STRATEGIC BENCHMARKS AND INDICATORS

3 To borrow mainly in TL

3 To borrow in foreign currencies besides US dollar in international markets for market diversification,

3 To keep the share of debt maturing within 12 months and the share of debt stock with interest rate refixing period of less than 12 months at a certain level, by taking into account appropriate instrument and maturity composition to optimize interest payments,

3 To keep a certain level of cash reserve in order to reduce the liquidity risk associated with cash and debt management.


BUDGET REALIZATION

CENTRAL GOVERNMENT BUDGET REALIZATION AND FINANCING

Million ¨2019 2020

Jan Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total

Central Government Revenues 96,951 122,170 - - - - - - - - - - - 122,170

Tax Revenues 55,675 67,416 - - - - - - - - - - - 67,416

-Direct Taxes 20,219 23,117 - - - - - - - - - - - 23,117

-Indirect Taxes 35,456 44,300 - - - - - - - - - - - 44,300

Nontax Revenues 41,276 54,754 - - - - - - - - - - - 54,754

Central Government Expenditures 91,860 100,669 - - - - - - - - - - - 100,669

Personnel Expenditure 23,877 29,222 - - - - - - - - - - - 29,222

Social Security Contributions 4,354 4,918 - - - - - - - - - - - 4,918

Purchase of Goods and Services 3,398 4,078 - - - - - - - - - - - 4,078

Interest Payments 7,279 12,745 - - - - - - - - - - - 12,745

Current Transfers 31,389 37,078 - - - - - - - - - - - 37,078

Capital Expenditure 10,947 9,183 - - - - - - - - - - - 9,183

Capital Transfers 4,969 20 - - - - - - - - - - - 20

Lending 5,646 3,424 - - - - - - - - - - - 3,424

Contingencies 0 0 - - - - - - - - - - - 0

Central Government Primary Balance 12,370 34,247 - - - - - - - - - - - 34,247

Central Government Balance 5,091 21,501 - - - - - - - - - - - 21,501

Deferred Payments (1) 503 -3,030 - - - - - - - - - - - -3,030

Advances (1) 5,812 8,356 - - - - - - - - - - - 8,356

Central Government Cash Balance 11,406 26,827 - - - - - - - - - - - 26,827

Central Government Budget Financing -11,406 -26,827 - - - - - - - - - - - -26,827

Borrowing (Net) 29,479 5,880 - - - - - - - - - - - 5,880

Foreign Borrowing (Net) 17,805 -393 - - - - - - - - - - - -393

-Receipts 18,608 0 - - - - - - - - - - - 0

-Payments -803 -393 - - - - - - - - - - - -393

Domestic Borrowing (Net) 11,675 6,272 - - - - - - - - - - - 6,272

-TL Denominated T-Bills 0 -1,875 - - - - - - - - - - - -1,875

Receipts 0 1,999 - - - - - - - - - - - 1,999

Payments 0 -3,873 - - - - - - - - - - - -3,873

-FX Denominated T-Bills 747 0 - - - - - - - - - - - 0

Receipts 747 0 - - - - - - - - - - - 0

Payments 0 0 - - - - - - - - - - - 0

-TL Denominated G-Bonds 4,544 8,147 - - - - - - - - - - - 8,147

Receipts 5,470 27,960 - - - - - - - - - - - 27,960

Payments -925 -19,813 - - - - - - - - - - - -19,813

-FX Denominated G-Bonds 6,383 0 - - - - - - - - - - - 0

Receipts 6,450 0 - - - - - - - - - - - 0

Payments -67 0 - - - - - - - - - - - 0

Net Lending (-) -1 0 - - - - - - - - - - - 0

Lending 0 0 - - - - - - - - - - - 0

Repayment (-) 1 0 - - - - - - - - - - - 0

Privatization Revenue 0 0 - - - - - - - - - - - 0

SDIF Revenue Surplus 0 0 - - - - - - - - - - - 0

Currency/Deposit And Other Transactions -40,886 -32,707 - - - - - - - - - - - -32,707


GENERAL BUDGET FINANCING

Million ¨2019 2020

Jan Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TotalGeneral Budget Balance 5,911 20,773 - - - - - - - - - - - 20,773Deferred Payments 1,260 -2,263 - - - - - - - - - - - -2,263Advances 5,361 7,589 - - - - - - - - - - - 7,589General Budget Cash Balance 12,531 26,099 - - - - - - - - - - - 26,099General Budget Financing -12,531 -26,099 - - - - - - - - - - - -26,099Borrowing (Net) 29,479 5,880 - - - - - - - - - - - 5,880

Foreign Borrowing (Net) 17,805 -393 - - - - - - - - - - - -393-Receipts 18,608 0 - - - - - - - - - - - 0-Payments -803 -393 - - - - - - - - - - - -393

Domestic Borrowing (Net) 11,675 6,272 - - - - - - - - - - - 6,272-TL Denominated T-Bills 0 -1,875 - - - - - - - - - - - -1,875

Receipts 0 1,999 - - - - - - - - - - - 1,999Payments 0 -3,873 - - - - - - - - - - - -3,873

-FX Denominated T-Bills 747 0 - - - - - - - - - - - 0Receipts 747 0 - - - - - - - - - - - 0Payments 0 0 - - - - - - - - - - - 0

-TL Denominated G-Bonds 4,544 8,147 - - - - - - - - - - - 8,147Receipts 5,470 27,960 - - - - - - - - - - - 27,960Payments -925 -19,813 - - - - - - - - - - - -19,813

-FX Denominated G-Bonds 6,383 0 - - - - - - - - - - - 0Receipts 6,450 0 - - - - - - - - - - - 0Payments -67 0 - - - - - - - - - - - 0

Net Lending (-) -1 0 - - - - - - - - - - - 0Lending 0 0 - - - - - - - - - - - 0Repayment (-) 1 0 - - - - - - - - - - - 0

SDIF Revenue Surplus 0 0 - - - - - - - - - - - 0Privatization Revenue 0 0 - - - - - - - - - - - 0Currency/Deposit And Other Transactions -42,012 -31,979 - - - - - - - - - - - -31,979

Million ¨2019 2020


1. Central Government Budget Revenues (Public Accounts Bulletin)

96,951 122,170 - - - - - - - - - - - 122,170

a. Privatization Proceeds (-) 0 0 - - - - - - - - - - - 0b. Interest Receipts (-) 652 4,179 - - - - - - - - - - - 4,179c. CBT Profit & Revaluation (-) 33,767 40,549 - - - - - - - - - - - 40,549d. Dividend Payments of State Banks (-) 0 0 - - - - - - - - - - - 0e. Special Revenues of the Turkish Mint (-) 48 23 - - - - - - - - - - - 23f. Net Lending to CGS (-) 0 0 - - - - - - - - - - - 0g. Sales of Immovables and Other One Time Revenues (-)

87 77 - - - - - - - - - - - 77

h. Unemployment Insurance Fund Transfer (GAP) (-)

0 0 - - - - - - - - - - - 0

i. 4.5G GSM Sales (-) 0 0 - - - - - - - - - - - 0j. Sale of Lands and Ports (-) 0 0 - - - - - - - - - - - 0k.Transferres from SDIF 5 2 - - - - - - - - - - - 2l.Construction Registration Certificate (Law N.3194/Provisional Article 16) (-)

284 93 - - - - - - - - - - - 93

m.Revenues of Military Service by Payment (-) 0 25 - - - - - - - - - - - 252. Central Government Budget Revenues (Program Definition) (1-a-b-c-d-e-f-g-h-i-j-k-l-m)

62,107 77,223 - - - - - - - - - - - 77,223

3. Central Government Primary Expenditures (Public Accounts Bulletin)

84,581 87,924 - - - - - - - - - - - 87,924

n. Risk Account (-) 0 0 - - - - - - - - - - - 0o. Social Security Transfers (Cash - Accrual Difference) (+)

-670 609 - - - - - - - - - - - 609

p. Net Lending to CGS (+) 0 0 - - - - - - - - - - - 04. Central Government Primary Expenditure (Program Definition) (3-n+o+p)

83,911 88,533 - - - - - - - - - - - 88,533

Primary Balance (Public Accounts Bulletin) (1-3) 12,370 34,247 - - - - - - - - - - - 34,247Primary Balance (Program Definition) (2-4) -21,804 -11,310 - - - - - - - - - - - -11,310

(1) Provisional

PROGRAM DEFINED CENTRAL GOVERNMENT BUDGET PRIMARY BALANCE(1)


TREASURY CASH BALANCE

CASH BALANCE REALIZATIONS (1)

(1) Provisional

(2) This row indicates the Privatization Funds' cash surplus which tranferred to Ministry of Treasury and Finance Domestic Payments Accounting Units' accounts by Privatization Fund and counted as budget revenue in Public Accounts Bulletin within the scope of 10th paragraph of code no:4046, 4,5G license payment, 2B land sales revenue and other income from share sales that will be recorded as budget revenue in the Public Accounts Bulletin.

(3) This row indicates the amount transferred from Turkish Privatization Administration for budget financing.

(4) A decrease / increase in bank accounts is denoted by + / - sign.

(5) This row indicates the change in the value of the items held in foreign exchange as a result of the exchange rate movements.

Million ¨2019 2020


1. REVENUES 773,692 97,395 - - - - - - - - - - - 897,034

2. EXPENDITURES 850,548 94,471 - - - - - - - - - - - 1,032,833

Non-Interest Expenditures 780,018 87,896 - - - - - - - - - - - 934,565

Interest Payments 70,529 6,575 - - - - - - - - - - - 98,268

3. PRIMARY BALANCE -6,326 9,499 - - - - - - - - - - - -37,531

4. PRIVATIZATION AND FUNDS INCOME (2) 6,503 71 - - - - - - - - - - - 5,273

5. CASH BALANCE (1+4-2) -70,352 2,995 - - - - - - - - - - - -130,525

6. FINANCING (7+8+9+10+11) 70,352 -2,995 - - - - - - - - - - - 130,525

7. BORROWING (NET) 52,736 29,351 - - - - - - - - - - - 153,664

FOREIGN BORROWING (NET) 4,869 17,575 - - - - - - - - - - - 28,958

Borrowing 36,834 18,376 - - - - - - - - - - - 63,466

Payment 31,965 801 - - - - - - - - - - - 34,508

DOMESTIC BORROWING (NET) 47,868 11,777 - - - - - - - - - - - 124,706

Borrowing 121,112 12,764 - - - - - - - - - - - 211,070

Payment 73,245 988 - - - - - - - - - - - 86,364

8. PRIVATIZATION (3) 0 0 - - - - - - - - - - - 0

9. TRANSFERS FROM SDIF 138 5 - - - - - - - - - - - 210

10. RECEIPTS FROM ONLENDING 1,132 39 - - - - - - - - - - - 1,387

11. CHANGE IN BANK ACCOUNTS (4) (5+7+8+9+10) 16,346 -32,391 - - - - - - - - - - - -24,734

12. EFFECT OF CHANGE IN EXCHANGE RATE (5) 2,669 -96 - - - - - - - - - - - 3,233

13. NET CHANGE IN BANK ACCOUNTS (4) (11-12) 13,676 -32,296 - - - - - - - - - - - -27,968


DOMESTIC DEBT

SECURITIES ISSUED ( January 2020 )

Zero Coupon TL Denominated Securities (Million ¨)

Auction Date Maturity Date Annual Yield(Compound) ( % )

Amount Issued

Nominal Net

01.15.2020 04.14.2021 10.45 7,434 6,56501.22.2020 04.22.2020 9.59 2,045 1,999

TOTAL 9,479 8,564

TL Denominated Floating Rate Notes (Million ¨)

Auction Date Maturity Date Term InterestDetermined By Ministry (%)

Term InterestAccepted In Auction (%)

Amount Issued

Nominal Net

01.15.2020 11.04.2026 (1) 7.15 7.17 3,524 3,60301.29.2020 01.26.2022 (2) 2.50 2.46 4,670 4,683

TOTAL 8,193 8,286 (1) Coupons of the security are paid semiannually.(2) Coupons of the security are paid quarterly.

Auction Date Maturity Date Coupon Rate (%)Yield Amount Issued

Semi-Annual Annual Compound (%) Nominal Net

01.29.2020 10.20.2021 (1) 6.90 4.93 10.09 3,233 3,551

TOTAL 3,233 3,551

Fixed Couponed TL Denominated Securities (Million ¨)

(1) Coupons of the security are paid semi-annually.

TL Denominated Lease Certificate Issuances (Million ¨)

Settlement Date Maturity Date Return (1) ( % )Sales Amount

Nominal Net

29.01.2020 01.26.2022 4.88 2,926 2,926

TOTAL 2,926 2,926 (1) Coupons of the security are paid semi-annually.(2) Real rent rate of CPI Indexed Lease Certificate.


BREAKDOWN OF DOMESTIC BORROWING BY INSTRUMENTS (1) ( Jan 2020 )

CURRENCY AND INTEREST COMPOSITION OF DOMESTIC BORROWING

WEIGHTED AVERAGE COST OF TL DENOMINATED FIXED INTEREST DOMESTIC BORROWING

% 2019 Jan

2020 Jan

Total Borrowing 100.0 100.0Fixed Rate 80.0 64.5Floating Rate 20.0 35.5Total Borrowing 100 100TL Denominated 43.9 100.0

Fixed Rate 25.2 64.5Floating Rate 18.7 35.5

FX Denominated 56.1 0.0Fixed Rate 54.8 0.0Floating Rate (1) 1.3 0.0

(1) Excluding switching auctions.

WEIGHTED AVERAGE MATURITY OF DOMESTIC BORROWING

Floating Rate Note Auctions

35.52 %

Lease Certificate Issuances12.54 %

Mon

thC

ompo

und

Yie

ld %

2020

2019

2020

2019

60

50

40

30

20

10

0

35

30

25

20

15

10

5

0

29.1

28.4

Jan

33.0

Feb

26.3

Mar

24.3

Apr

28.3

May

27.9

Jun

27.7

Jul

38.8

Aug

26.1

Sep

17.0

Oct

41.6

Nov

29.5

Dec

30.1

28.4

Avg,

18.6

10.2

Jan

18.6

Feb

19.7

Mar

22.2

Apr

25.8

May

23.6

Jun

20.4

Jul

15.3

Aug

15.3

Sep

14.3

Oct

12.3

Nov

11.7

Dec

18.3

10.2

Avg.

Fixed-Coupon TRY Auctions

15.22 %

Zero-coupon TRY Auctions 36.71 %

(1) Includes gold bonds and gold lease certificates. Gold Bonds and Gold lease certificates are being followed in FX Denominated Floating Rate value


TL YIELD CURVE

YIELDS AND TRADING VOLUMES OF GOVERNMENT SECURITIES (1)

(1) Include daily data for issue bonds and bills outright purchases and sales market and interest rates determined in Borrowing auctions.

J18

O20

D19

N19

O19

S19

A19

J19

J19

M19

A19

M19

F19

J19

D18

N18

O18

S18

A18

J18

J18

M18

N18

M18

F18

Day to Maturity

BIST Net Trade Volume Interest Rates in Secondary Markets CBT O/N Rate Treasury Benchmark

Auction Rates

Yie

ld (%

)A

nnua

l C

ompo

unde

d R

ate

(%)

Million

¨

25.00

22.00

19.00

16.00

13.00

10.00

7.00

30

25

20

15

10

5

0

0 500 750 1,000 1,250 1,500 3,500 3,7501,750 2,000 2,250 2,500 2,750 3,000 3,250250

01.31.202006.28.2019 09.26.2019 12.31.2019

5,000

4,000

3,000

2,000

1,000

0


CENTRAL GOVERNMENT DOMESTIC DEBT SERVICE (1)

CENTRAL GOVERNMENT DOMESTIC DEBT PAYMENT PROJECTIONS (1)

(1) Payments on non-cash bases are included.

(1) Payment projections on outstanding domestic debt stock as of January 31, 2020.

Feb19

Mar19

Apr19

May19

Jun19

Jul19

Aug19

Sep19

Oct19

Nov19

Dec19

Jan20

10.1 8.0 0.0 13.7 7.9 15.7 0.0 2.3 2.7 16.9 8.2 23.7

12.8 7.4 2.6 5.5 3.6 5.8 8.9 7.7 5.0 4.6 3.5 10.0

22.9 15.4 2.6 19.2 11.5 21.5 8.9 10.0 7.6 21.5 11.7 33.7

Feb20

Mar20

Apr20

May20

Jun20

Jul20

Aug20

Sep20

Oct20

Nov20

Dec20

Jan21

18.1 21.3 8.1 13.9 9.5 14.9 19.6 15.5 18.8 17.9 3.8 14.5

9.7 7.3 17.9 5.8 4.2 4.7 8.3 9.4 6.0 3.1 2.4 16.7

27.8 28.6 26.0 19.7 13.7 19.6 27.9 24.8 24.8 21.0 6.2 31.2

Billion

¨

Billion

¨

Principal

Interest

Total

Principal

Interest

Total

25

20

15

10

5

0

24

21

18

15

12

9

6

3

0


(1) EMBI+ is an index which displays the difference between the weighted yield of selected emerging sovereign bonds and the US Treasury bonds. The performance of the Turkish bonds in the index can be tracked under EMBI+ Turkey.

EXTERNAL DEBT

YIELD CURVE OF USD DENOMINATED EUROBONDS

PERFORMANCE OF TURKEY'S BONDS IN EMERGING MARKET BOND INDEX (EMBI+)(1)

Maturity

8.5

7.5

6.5

5.5

4.5

3.5

2.5

1.5

0.5

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

2046

2047

(%)

1,000

850

700

550

400

250

100

-50

-200

(bp)

EUROBOND ISSUANCE IN 2020Issue Type Issue Date Maturity Currency

Amount (million)

Amount (million USD)

Coupon (%)

Issue Price (%)

Rate of Return (%)

Rate of Return(Spread) Bp

- - - - - - - - - -

Total (Million US Dollar) -

Jan15

Apr16

Jul16

Oct16

Oct17

Jan18

Jul18

Jan19

Oct18

Oct19

Apr18

Apr19

Jul19

Jul17

Apr17

Jan17

Jan16

Apr15

Jul15

Oct15

01.31.202012.31.201912.31.2015 12.31.2016 12.31.2017 12.31.2018

(EMBI+ Turkey)-(EMBI+)

EMBI+ TurkeyEMBI+

MS : Mid-SwapUST : United States Treasury Bond Yieldbp : Basis point (100 bp = %1.00)

Jan20


EXTERNAL CREDIT DISBURSEMENTSOF CENTRAL GOVERNMENT (1) (2)

PROJECT CREDIT DISBURSEMENTSOF CENTRAL GOVERNMENT (1)

(1) Including eurobond issuance.(2) TL equivalent is calculated by the end of relevant period's US $ buying rates.(3) Contains SDR allocation.

(1) Calculated by the end of relevant period's US $ buying rates.

Project2.0 %

Project100.0 %

Program98.0 %

Program 0.0 %

2019 January

2020 January

2020Jan

Millo

n U

S D

olla

r

1.0

0.8

0.6

0.4

0.2

0

Program

Program

Project

Project0.9

Tran

spor

tatio

n

0.0

Publ

ic

Adm

inis

tratio

n

0.1

Heal

th

0.0

Ener

gy

0.0

Agric

ultu

re

0.0

Educ

atio

n

0.0

Othe

r

LOAN AGREEMENTS OF CENTRAL GOVERNMENT BUDGET

Credit nameProgram

Credit / Project Credit Distinction

Lender Borrower Implementing AgencyAgreement

DateAgreement Currency

Agreement Amount

USDDenominated

Amount

Istanbul Seismic Risk Mitigation and Emergency Preparedness Project Project Credit AIIB Ministry of Treasury

and FinanceIstanbul Project Coordination Unit 7-Jan-2020 USD 300,000,000 300,000,000

Total 300,000,000


CENTRAL GOVERNMENT EXTERNAL DEBT SERVICE (1) (2)

CURRENCY COMPOSITION OF EXTERNAL DEBT SERVICE (1)

( January 2020 )

(1) Exchange rates of cash outflow dates were taken.(2) Does not include discount payments, commissions and fees.

(1) Exchange rates of cash outflow dates were taken.

Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20

48 3,084 104 113 168 113 435 115 109 1,611 179 63

386 703 338 484 163 202 424 557 471 328 204 202

434 3,787 442 597 332 314 858 672 580 1,939 384 265

Million

US

Dol

lar

Principal

Interest

Total

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

0

US Dollar89.96 %

Other1.93 %

JPY1.19 %

Euro6.92 %


(1) Projections as of February 24, 2020.(2) Projections are based on current debt stock and do not include potential agreements and drawings.(3) No payment is foreseen by non-general budget institutions (4) Does not include commissions and fees.(5) These projections are compiled based on the cash outflow dates and can be differentiate from the external debt projections, which are compiled based on the projection dates, published on the Statistics section of Ministry of Treasury and Finance’s website.

(1) Projections as of February 01, 2020.(2) Projections are based on the USD parities dated January 31, 2020(3) Projection figures are based on total debt stock amount and do not include possible realizations.(4) Disbursement expenditures are not included.(5) Projections are compiled based on the projection dates.

CENTRAL GOVERNMENT EXTERNAL DEBT PAYMENT PROJECTIONS (1) (2) (3) (4) (5)

CENTRAL GOVERNMENT EXTERNAL DEBT PAYMENT PROJECTIONS (1) (2) (3) (4) (5)

Feb2020

Mar2020

Apr2020

May2020

June2020

Jul2020

Aug2020

Sep2020

Oct2020

Nov2020

Dec2020

Jan2021

54 107 106 2,275 2,165 55 104 116 113 173 647 49

579 615 450 393 235 321 365 660 420 340 133 195

633 723 557 2,668 2,399 376 469 776 533 513 781 244

2020Feb 2021 2022 2023 2024

6.0 7.4 7.6 7.2 10.6

4.4 4.3 4.0 3.7 3.4

10.5 11.7 11.7 10.9 13.9

Million

US

Dol

lar

Billion

US

Dol

lar

Principal

Interest

Total

Principal

Interest

Total

2,500

2,000

1,500

1,000

500

0

8

7

6

5

4

3

2

1

0


DEBT STOCK

CURRENCY AND INTEREST COMPOSITION OF CENTRAL GOVERNMENT DEBT STOCK (1) (2) (3)

CENTRALGOVERNMENT

Million ¨ Million US Dollar %

2017 2018 2019 2020Jan 2017 2018 2019 2020

Jan 2017 2018 2019 2020Jan

TOTAL DEBT STOCK 876,494 1,067,115 1,328,836 1,336,201 231,943 202,459 223,286 223,341 100.0 100.0 100.0 100.0

Fixed 646,731 803,786 982,981 978,560 171,137 152,494 165,167 163,558 73.8 75.3 74.0 73.2

Floating 110,200 127,952 173,530 180,505 29,165 24,278 29,161 30,174 12.6 12.0 13.1 13.5

CPI Indexed 119,564 135,377 172,325 177,137 31,642 25,686 28,958 29,610 13.6 12.7 13.0 13.3

TL 535,059 580,277 668,538 674,811 141,599 110,101 112,342 112,799 61.0 54.4 50.3 50.5

Fixed 348,401 370,567 402,293 397,498 92,201 70,311 67,602 66,445 39.8 34.7 30.3 29.7

Floating 67,094 74,333 93,921 100,176 17,756 14,104 15,783 16,745 7.7 7.0 7.1 7.5

CPI Indexed 119,564 135,377 172,325 177,137 31,642 25,686 28,958 29,610 13.6 12.7 13.0 13.3

FX 341,435 486,838 660,297 661,390 90,344 92,358 110,944 110,542 39.0 45.6 49.7 49.5

Fixed 298,329 433,219 580,689 581,061 78,936 82,183 97,565 97,114 34.0 40.6 43.7 43.5

Floating 43,106 53,619 79,609 80,329 11,409 10,174 13,379 13,429 4.9 5.0 6.0 6.0

Domestic Debt Stock 535,448 586,142 755,052 761,907 141,702 111,214 126,880 127,358 100.0 100.0 100.0 100.0

Fixed 348,401 375,213 464,244 458,777 92,201 71,192 78,012 76,688 65.1 64.0 61.5 60.2

Floating 67,482 75,552 118,483 125,993 17,859 14,335 19,910 21,061 12.6 12.9 15.7 16.5

CPI Indexed 119,564 135,377 172,325 177,137 31,642 25,686 28,958 29,610 22.3 23.1 22.8 23.2

Foreign Debt Stock 341,047 480,973 573,784 574,294 90,241 91,245 96,406 95,983 100.0 100.0 100.0 100.0

Fixed 298,329 428,573 518,737 519,783 78,936 81,302 87,155 86,871 87.5 89.1 90.4 90.5

Floating 42,717 52,400 55,047 54,511 11,306 9,943 9,251 9,113 12.5 10.9 9.6 9.5

TOTAL DEBT STOCK 876,494 1,067,115 1,328,836 1,336,201 231,943 202,459 223,286 223,341 100.0 100.0 100.0 100.0

TL 535,059 580,277 668,538 674,811 141,599 110,101 112,342 112,799 61.0 54.4 50.3 50.5USD 222,368 311,513 389,113 390,926 58,848 59,106 65,387 65,346 25.4 29.2 29.3 29.3EUR 88,515 132,581 200,424 198,200 23,426 25,156 33,680 33,131 10.1 12.4 15.1 14.8JPY 23,604 32,702 36,445 36,718 6,232 6,190 6,110 6,123 2.7 3.1 2.7 2.7SDR 5,317 7,226 8,091 8,096 1,408 1,372 1,361 1,354 0.6 0.7 0.6 0.6Other 1,631 2,816 26,225 27,451 431 534 4,406 4,588 0.2 0.3 2.0 2.1

Domestic Debt Stock 535,448 586,142 755,052 761,907 141,702 111,214 126,880 127,358 61.1 54.9 56.8 57.0

TL 535,059 580,277 668,538 674,811 141,599 110,101 112,342 112,799 61.0 54.4 50.3 50.5

USD 0 519 0 0 0 99 0 0 0.0 0.0 0.0 0.0

EUR 0 4,127 61,951 61,278 0 783 10,410 10,243 0.0 0.4 4.7 4.6

Other 388 1,219 24,562 25,818 103 231 4,127 4,316 0.0 0.1 1.8 1.9

Foreign Debt Stock 341,047 480,973 573,784 574,294 90,241 91,245 96,406 95,983 38.9 45.1 43.2 43.0

USD 222,368 310,994 389,113 390,926 58,848 59,008 65,387 65,346 25.4 29.1 29.3 29.3

EUR 88,515 128,454 138,473 136,922 23,426 24,373 23,270 22,888 10.1 12.0 10.4 10.2

JPY 23,604 32,702 36,445 36,718 6,232 6,190 6,110 6,123 2.7 3.1 2.7 2.7

SDR 5,317 7,226 8,091 8,096 1,408 1,372 1,361 1,354 0.6 0.7 0.6 0.6

Other 1,243 1,597 1,663 1,633 328 302 279 272 0.1 0.1 0.1 0.1

Total Debt Stock / GDP (%) 28.18 28.65 31.04 .. .. .. .. .. .. .. .. ..

USD end period selling rate 3.7787 5.2704 5.9509 5.9824 .. .. .. .. .. .. .. ..

EUR/ USD 1.1972 1.1458 1.1196 1.1016 .. .. .. .. .. .. .. ..

(1) Provisional.(2) Domestic and Foreign Debt Stock consist of principal liabilities.(3) TL equivalents of debt stock amounts are calculated from original currencies using selling rates of relevant end of periods.


COMPOSITION OF DOMESTIC DEBT BY HOLDERS (1)

COMPOSITION OF DOMESTIC DEBTBY HOLDERS (1)

TIME TO MATURITY OF DOMESTIC DEBT STOCK (1)

DURATION OF TL-DENOMINATEDDOMESTIC DEBT STOCK (1) (2)

(1) Calculated acccording to the values of Official Gazette.

(1) Figures show the weighted average of time to maturity of cash and non-cash stock with their stock values.

(1) Provisional.

(1) Provisional.(2) Excluding non-cash securities, CPI indexed bonds/lease certificates and gold bonds/lease certificates.

DURATION OF EXTERNAL BOND STOCK (1)

Mon

th

Mon

th

Mon

th

Banking Sector (Left Axis)

Corporate Investors (Right Axis)

Non Residents (Right Axis)

Retail Investors (Right Axis)

Securities Mutual Funds (Right Axis)

Duration

Duration

Total

Cash

Non-cash

84,0

80,0

76,0

72,0

68,0

64,0

60,0

70

60

50

40

30

20

10

0

35,0

30,0

25,0

20,0

15,0

10,0

5,0

0

69

64

59

54

49

44

39

30

25

20

15

10

5

0

(%)(%)

% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Jan

Residents 89.7 91.4 87.6 82.7 76.8 78.5 78.5 82.7 82.7 80.6 89.9 90.1Banking Sector 55.0 63.4 63.0 56.7 50.5 50.1 47.7 48.9 47.6 47.1 58.0 58.0

Public Banks 26.1 26.9 25.6 24.0 20.3 20.9 19.3 18.7 18.8 17.7 25.6 25.3Private Banks 23.4 30.8 30.6 25.4 23.4 21.8 21.1 22.7 16.9 17.8 18.8 18.9Foreign Banks 4.9 4.9 5.5 5.7 5.1 5.6 5.4 5.6 9.9 9.7 8.5 8.5Development and Investment Banks 0.7 0.8 1.0 1.1 1.2 0.9 0.9 0.9 0.8 0.8 1.7 1.6Participation Banks 0.0 0.0 0.4 0.5 0.5 1.0 1.1 1.1 1.2 1.1 3.5 3.6

Non Banking Sector 30.2 25.7 22.5 24.1 24.4 26.2 28.7 31.8 32.3 31.0 29.7 29.8Retail Investors 5.5 2.9 1.5 1.6 0.7 0.9 0.4 0.3 0.2 0.2 0.4 0.4Corporate Investors 19.9 18.5 16.9 18.7 19.8 20.6 23.2 25.3 25.8 24.9 21.7 21.3Securities Mutual Funds 4.8 4.2 4.0 3.8 3.9 4.7 5.1 6.2 6.4 5.8 7.6 8.1

CBRT (2) 4.6 2.3 2.0 2.0 1.9 2.1 2.0 2.0 2.8 2.5 2.2 2.3Non Residents 10.3 8.6 12.4 17.3 23.2 21.5 21.5 17.3 17.3 19.4 10.1 9.9Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

(1) Stock valuation based on Official Gazette prices of last workday of the related month. Additionally, Securities used as collaterals like in REPO transactions are classified within the subsector of the collateral providers.(2) Until 2010, the line includes Non-Cash Securities and amounts related to CBRT Open Market Operations and after 2010, it includes only amounts related to CBRT Open Market Operations.

Source: CBRT

Jan202020192018201720162015201420132012201120102009

71.0

2009

75.8

2010

76.1

2011

77.5

2012

76.2

2013

77.6

2014

78.0

2015

77.3

2016

79.0

2017

77.6

2018

72.2

2019

71.6

Jan 2020

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Jan

2020

24.4 31.0 31.1 33.6 46.9 55.0 55.1 51.9 50.5 46.7 36.1 36.8

25.0 30.9 31.1 33.7 47.0 55.0 55.1 51.9 50.5 46.7 42.8 36.5

14.4 40.4 29.2 22.5 16.4 10.6 27.7 15.3 47.6 35.5 36.5 41.7 7.5

2009

10.6

2010

12.5

2011

15.0

2012

23.1

2013

28.9

2014

30.3

2015

30.7

2016

31.4

2017

29.0

2018

22.5

2019

22.2

Jan2020


AVERAGE TIME TO MATURITY OF CENTRAL GOVERNMENT DEBT STOCK (YEAR)

Domestic Debt Stock External Debt Stock Total Debt Sock

2005 2.0 5.7 2.9

2006 2.0 7.0 3.4

2007 2.1 7.7 3.4

2008 2.0 7.9 3.6

2009 2.0 7.9 3.5

2010 2.6 8.8 4.1

2011 2.6 9.0 4.4

2012 2.8 9.4 4.6

2013 3.9 9.3 5.6

2014 4.6 9.5 6.1

2015 4.6 9.5 6.3

2016 4.3 9.4 6.3

2017 4.2 9.9 6.4

2018 3.9 9.6 6.4

2019 3.0 8.9 5.5

2020 (1) 3.1 8.8 5.5

(1) As of January 01, 2020. Provisional.

TIME TO MATURITY OF CENTRAL GOVERNMENT EXTERNAL DEBT STOCK (YEAR)

Time To Maturity of External Bond Stock

Average Time To Maturity of External Debt Stock

Time To Maturity of External Debt Stock

2005 8.1 5.7 7.5

2006 9.6 7.0 8.8

2007 9.8 7.7 9.5

2008 10.3 7.9 9.8

2009 9.6 7.9 9.6

2010 10.3 8.8 10.5

2011 10.1 9.0 10.8

2012 10.2 9.4 11.1

2013 9.9 9.3 11.0

2014 10.1 9.5 11.1

2015 10.2 9.5 11.1

2016 10.1 9.4 11.0

2017 10.5 9.9 11.5

2018 10.1 9.6 11.2

2019 9.1 8.9 10.3

2020 (1) 9.0 8.8 10.2

(1) As of January 01, 2020. Provisional.


PERCENTAGE OF DOMESTIC DEBT MATURINGWITHIN 12 MONTHS (1)

INTEREST RATE RE-FIXING WITHIN 12 MONTHS (PERCENTAGE OF DOMESTIC DEBT) (1) (2)

(1) Provisional.

(1) Provisional.(2) Include short term debt maturing within 12 months and floating rate debt.

50.0

40.0

30.0

20.0

10.0

0

90.0

80.0

70.0

60.0

50.0

40.0

(%)

(%)

38.7

2009

27.2

2010

22.2

2011

33.1

2012

29.2

2013

15.6

2014

12.2

2015

12.0

2016

12.8

2017

13.9

2018

23.7

2019

20.6

Jan 2020

78.7

2009

71.2

2010

67.3

2011

70.3

2012

64.0

2013

55.1

2014

51.9

2015

46.8

2016

46.8

2017

48.1

2018

54.3

2019

53.0

Jan 2020


38.7

2009

27.2

2010

22.2

2011

33.1

2012

29.2

2013

15.6

2014

12.2

2015

12.0

2016

12.8

2017

13.9

2018

23.7

2019

20.6

Jan 2020

Million ¨ 2012 2013 2014 2015 2016 2017 2018 2019 Q1 2019 Q2 2019 Q3

Total Public Sector Net Debt (I-II-III-IV) 240,465 197,248 186,811 160,989 219,183 262,238 507,160 619,917 591,283 643,136 l- Total Public Sector Debt Stock (Gross) 562,738 622,891 649,936 722,084 819,785 954,574 1,170,108 1,265,341 1,323,844 1,346,463

A-Domestic Debt 408,367 430,251 443,357 474,248 514,702 596,548 664,985 701,214 754,078 782,915 Central Government 386,542 403,007 414,649 440,124 468,644 535,448 586,142 623,931 676,158 701,029 Rest of the Public Sector 21,826 27,244 28,709 34,124 46,058 61,101 78,843 77,282 77,920 81,886

B- External Debt 154,371 192,641 206,579 247,836 305,082 358,026 505,124 564,128 569,766 563,548 Central Government 146,359 183,186 197,869 238,122 291,307 341,047 480,973 538,507 543,599 538,870 Rest of the Public Sector 8,012 9,455 8,710 9,714 13,775 16,979 24,151 25,620 26,166 24,677

II- Central Bank Net Assets 189,502 271,110 304,360 376,246 397,053 445,479 426,300 388,396 479,096 441,734 Net Foreign Assets 198,965 267,400 288,642 315,955 371,076 408,018 478,895 498,387 546,355 564,640 Other Asset and Obligations (Net) -9,464 3,710 15,719 60,292 25,977 37,461 -52,595 -109,990 -67,259 -122,906

III- Public Sector Deposits 71,610 84,182 77,372 91,775 100,346 130,137 109,004 126,430 122,997 131,392 Central Government 33,535 45,691 50,592 48,074 48,380 79,823 69,378 85,052 86,061 93,657 Rest of the Public Sector 38,075 38,491 26,779 43,701 51,966 50,314 39,625 41,378 36,936 37,735

IV-Unemployment Insurance Fund Net Assets 61,162 70,352 81,393 93,074 103,202 116,721 127,644 130,597 130,468 130,200 Net External Debt Stock -44,594 -74,759 -82,063 -68,119 -65,994 -49,992 26,229 65,741 23,411 -1,092Net Domestic Debt Stock 285,059 272,007 268,874 229,108 285,177 312,230 480,932 554,176 567,872 644,228Public Net Debt Stock/GDP (%) (2) 15.3 10.9 9.1 6.9 8.4 8.4 13.6 16.1 14.8 15.7 GDP 1,569,672 1,809,713 2,044,466 2,338,647 2,608,526 3,110,650 3,724,388 3,856,304 3,989,723 4,108,174

Million US Dollar 2012 2013 2014 2015 2016 2017 2018 2019 Q1 2019 Q2 2019 Q3

Gross External Debt Stock 342,427 393,013 406,040 400,445 409,655 454,495 440,681 446,689 439,688 433,889

CBRT (-) 7,088 5,234 2,484 1,327 1,110 1,761 5,922 5,906 6,500 6,405

Banks (-) 118,599 157,686 174,657 167,220 164,985 182,278 163,458 163,493 159,562 154,311

Gross External Debt Stock, Excluding Banking Sector (I) 216,740 230,093 228,899 231,898 243,560 270,456 271,301 277,290 273,626 273,173

Monetary Authorities and Deposit Money Banks (1) 38,541 15,232 0 -4,629 7,651 1,057 18,714 23,398 30,814 42,421

Investment and Development Banks & Participation Banks -12,240 -15,554 -16,529 -16,623 -18,399 -20,893 -17,978 -18,185 -18,941 -16,863

Banking Sector / Monetary Sector Net Foreign Assets (II) (2) 26,301 -323 -16,529 -21,252 -10,748 -19,836 736 5,213 11,873 25,558

Net External Debt Stock (I-II) 190,439 230,416 245,428 253,150 254,308 290,292 270,565 272,077 261,753 247,615

Net External Debt Stok/GDP (%) (3) 21.9 24.2 26.3 29.4 29.5 34.0 34.3 36.1 36.2 33.7

PUBLIC NET DEBT STOCK (1)

TURKEY'S NET EXTERNAL DEBT STOCK

(1) Provisional (Due to update of foreign debt data figures may change retrospectively).(2) For quarterly terms, ratios are calculated using GDP in TL amounts on a four quarter moving basis.

(1) As the Treasury’s obligations to the IMF is included in the liability side of the Monetary Survey table and Gross External Debt Stock, this amount is subtracted from CBT’s liabilities in order to avoid double counting.

(2) Central Bank's Banking Survey data, that is not published anymore, is used for the period before 2005. After 2005, Monetary Survey data is used as a net foreign assets of monetary sector.(3) For quarterly terms, ratios are calculated using GDP in USD amounts on a four quarter moving basis.Source : MTF, CBRT, TURKSTAT

Million ¨ 2012 2013 2014 2015 2016 2017 2018 2019 Q1 2019 Q2 2019 Q3

Total Debt 513,065 568,187 585,406 643,265 735,411 878,296 1,134,012 1,222,730 1,293,110 1,319,556 Central Government 554,984 610,323 640,581 707,580 799,820 939,914 1,184,021 1,269,947 1,341,947 1,372,578 Local Government 28,131 32,103 28,115 32,591 41,452 54,348 69,834 72,945 73,210 70,934 Social Security Fund 9 11 9 9 9 9 9 10 9 8 Between Sector Consolidation -70,060 -74,250 -83,299 -96,914 -105,871 -115,975 -119,852 -120,172 -122,056 -123,965

Total Debt 513,065 568,187 585,406 643,265 735,411 878,296 1,134,012 1,222,730 1,293,110 1,319,556 Currency and Deposits 1,139 1,291 1,502 1,815 2,087 2,342 2,731 2,794 2,921 3,063 Securities 440,169 480,065 500,399 546,524 619,409 735,413 944,174 1,027,084 1,094,509 1,129,874 Loans 71,756 86,831 83,506 94,926 113,915 140,541 187,107 192,852 195,680 186,620

Total Debt / GDP (%) (2) 32.7 31.4 28.6 27.5 28.2 28.2 30.4 31.7 32.4 32.1

GENERAL GOVERNMENT DEBT STOCK DEFINED BY EUROPEAN UNION STANDARDS (1)

(1) Provisional (Due to revision of external debt data, figures may change retrospectively).(2) For quarterly terms, ratios are calculated using GDP in TL amounts on a four quarter moving basis.


TREASURY GUARANTEES

TREASURY GUARANTEED EXTERNAL DEBT STOCK(1)

TIME TO MATURITY OF TREASURY GUARANTEED DEBT STOCK (1) (YEAR)

Million US Dollar 2012 2013 2014 2015 2016 2017 2018 2019 Q1 2019 Q2 2019 Q3

GRAND TOTAL 9,751 10,807 11,157 11,608 12,561 14,152 13,867 14,835 14,742 14,354

Central Administrations 0 0 0 300 300 300 300 300 300 300

Local Administrations 1,161 1,113 938 789 687 676 559 542 523 499

Funds 3 0 0 0 0 0 0 0 0 0

Public Sector Financial Institutions (2) 3,994 5,028 5,812 6,370 7,515 8,715 8,554 9,489 9,406 9,163

Public Sector Non-Financial Institutions (3) 1,214 1,158 989 858 803 1,136 1,218 1,322 1,392 1,394

Private Sector Financial Institutions (4) 3,367 3,506 3,416 3,291 3,256 3,326 3,236 3,182 3,121 2,998

Private Sector Non-Financial Institutions 12 1 0 0 0 0 0 0 0 0

INTEREST RATE COMPOSITION 9,751 10,807 11,157 11,608 12,561 14,152 13,867 14,834 14,742 14,354

Fixed 2,005 2,436 2,974 3,373 3,861 4,330 4,263 4,140 4,081 3,943

Floating 7,565 8,215 8,067 8,152 8,636 9,712 9,511 10,610 10,576 10,334

Combined 181 156 116 83 64 110 93 85 85 76

CURRENCY COMPOSITION 9,751 10,807 11,157 11,608 12,561 14,152 13,867 14,834 14,742 14,354

USD 4,111 4,609 5,051 5,532 5,893 6,663 6,876 6,983 6,950 6,899

JPY 21 26 39 54 76 142 222 233 252 261

EUR 5,566 6,125 6,026 5,909 6,414 7,184 6,654 7,510 7,436 7,087

OTHERS 54 46 41 113 178 163 115 107 104 106

(1) Provisional. (2) Represents Public Banks. (3) Represents SOEs, Izmit Gas Distribution Company (IZGAZ) and Istanbul Olimpic Games Preparation & Organization Board.

The stocks of the privatised institutions take place here until the privatisation date.(4) Represents Turkey Industrial Development Bank Inc. (TSKB).

(1) Provisional.

2018 Q4 2019 Q3

Time to Maturity

Avg. Time to Maturity

Time to Maturity


Public 10.4 5.6 9.7 5.4

General Government 10.0 5.2 10.0 5.3

Central Government 11.3 6.1 10.7 5.4

Local Administrations 9.4 4.9 9.6 5.3

Financial Institutions 10.0 5.3 9.1 5.0

Public Banks 10.0 5.3 10.2 5.5

Non Banking Sector - - 1.5 1.5

Non Financial Institutions 13.4 7.7 13.5 7.7

SOEs 13.4 7.7 13.9 7.9

Public Enterprises - - 11.4 6.7

Private 11.9 6.1 12.6 6.1


Banks 11.9 6.1 12.6 6.1

Total 10.7 5.7 10.3 5.5


TREASURY GUARANTEED DEBT AGREEMENTS (2020 January)

Borrower Credit Name LenderAgreement

DateAgreement

AmountGuarantee Ratio (%)

CurrencyMaturity (Year)

GracePeriod (Year)

Amount in Terms of USD

- - - - - - - - - -

Total -

LOANS SUBJECT TO DEBT ASSUMPTION AGREEMENTS

Project Name PPP ModelDebt

Assumption Agreement Date

Total Project Cost Loan AmountLoan Amount

(USD equivalent)

Eurasia Tunnel Build-Operate-Transfer 11.12.2012 $ 1,239,863,000 $ 960,000,000 960,000,000

Northern Marmara Motorway -Odayeri-Paşaköy Section (including Third Bosphorus Bridge)

Build-Operate-Transfer05.13.2014

$ 3,456,244,239 $ 2,318,000,000 2,318,000,000

11.03.2016 $ 420,000,000 420,000,000 Gebze-Orhangazi-İzmir Motorway (including the Izmit Gulf Crossing)

Build-Operate-Transfer 05.06.2015 $ 6,312,392,047 $ 4,956,312,328 4,956,312,328

Çanakkale-Malkara Motorway (including 1915 Çanakkale Bridge) Build-Operate-Transfer 03.16.2018 € 3,159,721,036 € 2,265,000,000 2,799,993,000Ankara-Nigde Motorway Build-Operate-Transfer 07.06.2018 € 1,462,628,902 € 1,114,962,012 1,310,749,341Northern Marmara Motorway - Kurtköy-Akyazı Section Build-Operate-Transfer 09.16.2019 $ 3,661,656,404 $ 2,840,000,000 2,840,000,000Northern Marmara Motorway- Kınalı-Odayeri Section Build-Operate-Transfer 09.16.2019 $ 2,072,257,009 $ 1,595,000,000 1,595,000,000

Total 17,200,054,669

TREASURY GUARANTEED DEBT AGREEMENTS (1) (2007-2020)

Million US Dollar 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Jan

Public 637 1,393 2,178 1,101 790 1,022 1,858 2,085 2,463 1,972 1,045 1,792 2,594 0

Financial Institutions 410 731 1,652 754 790 1,022 1,858 1,339 2,163 1,572 485 144 760

SOEs 0 444 184 0 0 0 0 746 0 400 560 1,648 384

Local Administrations 227 217 341 347 0 0 0 0 0 0 0 0 0

Central Government 0 0 0 0 0 0 0 0 300 0 0 0 0

Other 0 0 0 0 0 0 0 0 0 0 0 0 1,450

Private 266 607 582 100 607 319 692 370 260 473 0 600 200

Total 903 1,999 2,759 1,201 1,397 1,341 2,550 2,456 2,723 2,445 1,045 2,392 2,794 0

(1) Contract based


REPAYMENTS OF TREASURY GUARANTEED DEBT (2020 January)

Million

US

Dol

lar

Paid by Ministry

Paid By Institution

Total

150

120

90

60

30

0

BY BUDGET TYPE(Million US Dollar)

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020(1) Total

Central Government 0 0 0 0 0 0 0 0 0 0 0

Paid by Treasury 0 0 0 0 0 0 0 0 22 0 22

Paid by Institution 0 0 0 0 0 0 0 0 0 0 0

Local Administrations 152 136 132 139 130 137 106 108 86 2 1,127

Paid by Ministry 47 41 32 32 28 27 11 20 27 0 265


Funds 33 15 2 0 0 0 0 0 0 0 50

Paid by Ministry 0 0 0 0 0 0 0 0 0 0 0


Public Sector Financial Institutions 57 80 102 194 308 458 663 977 1,115 62 4,015

Paid by Ministry 0 0 0 0 0 0 0 0 0 0 0

Paid by Institution 57 80 102 194 308 458 663 977 1,115 62 4,015

Public Sector Non Financial Institutions 176 171 226 237 203 156 129 127 93 6 1,524

Paid by Ministry 1 0 0 0 0 0 0 0 0 0 1

Paid by Institution 176 171 226 237 203 156 129 127 93 6 1,524

Private Sector Financial Institutions 263 345 346 373 357 350 372 463 470 40 3,378

Paid by Ministry 0 0 0 0 0 0 0 0 0 0 0

Paid by Institution 263 345 346 373 357 350 372 463 470 40 3,378

Private Sector Non Financial Institutions 59 27 11 1 0 0 0 0 0 0 97

Paid by Ministry 0 0 0 0 0 0 0 0 0 0 0


TOTAL 739 774 820 943 998 1,100 1,270 1,675 1,785 110 10,215

Paid by Ministry 47 41 32 32 28 27 11 20 49 0 287

Paid by Institution 692 734 788 911 970 1,073 1,259 1,654 1,736 109 9,927

REPAYMENTS OF TREASURY GUARANTEED DEBT (2011 - 2020)

(1) As of January 01, 2020.

0

0

0

Central Government

2

2

0

Local Administrations

62

62

0

Public Sector Financial

Institutions

6

6

0

Public Sector Non-Financial

Institutions

40

40

0

Private Sector Financial Ins.

110

109

0

Total


TREASURY GUARANTEED DEBT PAYMENT PROJECTIONS (1)

(1) Provisional as of September 30, 2019

Million

US

Dol

lar

Central Government

Local Administrations

Public Sector Financial Ins.

Public Sector Non-Financial Ins.

Private Sector Financial Ins.

Total

2500

2000

1500

1000

500

0

Thousand ¨ 2019 January 2020 January

Total Payments 1,609 1,910

Non-Financial Institutions 0 264

Financial Institutions 0 0

Private Sector Financial Institutions 0 0

BOT 0 0

Local Administrations 1,609 1,646

Central Government 0 0

FX Differences 0 0

Total Income(2) 45,238 81,098

Non-Financial Institutions 5,340 2,730

Financial Institutions 344 390

Private Sector Financial Institutions 0 0

BOT 0 0

Local Administrations 54,488

Central Government 0 0

CBRT Interest Revenue 39,554 23,489

RISK ACCOUNT (1)

(1) Risk Account which belongs to the Ministry of Treasury and Finance has been established at the Central Bank of Turkey for the undertaking of the repayments by the Ministry of Treasury and Finance for Treasury guarantees.

(2) Provisional.

531

109

23

346

32

22

2019

1.905

425

85

1.271

81

42

2020

2.996

390

90

2.388

87

41

2021

1.809

366

135

1.181

86

40

2022


TREASURY NON-GUARANTEED LOAN AGREEMENTSOF PUBLIC SECTOR

TREASURY NON-GUARANTEED EXTERNAL DEBT AGREEMENTS

Borrower Project Name Lender Agreement Date

Agreement Amount Currency Maturity

(Year)

Grace Period(Year)

Amount In Terms Of USD

Construction of the Fahrettin Altay - Narlıdere-Kaymakamlık metro line

BSTDB - Black Sea Trade and Development Bank

Izmir Metropolitan Municipality 24 Jan 2020 50,000,000 EUR 10.1 2.6 55,440,000.00

Total 55,440,000.00

GRANT AGREEMENTS SIGNED WITHIN THE SCOPE OF LAW NUMBERED 4749

Grantee Donor Project Date Currency Original Amount

Amount in USD

- - - - - - -

Total -

(1) Provisional. Indicates the total amount of outstanding overdue and projected receivables. (2) Represents privatized SOE's and corporations governed by foundations.

TREASURY RECEIVABLESTREASURY RECEIVABLES STOCK (1)

Year2019 2020 January

Million ¨ % Million ¨ %Public 17,862 99.2 17,660 99.2

General Government 12,641 70.2 12,477 70.1Central Government 1,604 8.9 1,599 9.0Local Administrations 11,029 61.3 10,870 61.1Social Security Institutions 7 0.0 7 0.0

Financial Institutions 1,672 9.3 1,641 9.2Public Banks 1,672 9.3 1,641 9.2

Non Financial Institutions 3,549 19.7 3,541 19.9SOEs 3,520 19.6 3,512 19.7Public Enterprises 29 0.2 29 0.2

Private 139 0.8 139 0.8Financial Institutions 139 0.8 139 0.8

Banks 139 0.8 139 0.8Non Financial Institutions 0 0.0 0 0.0

Companies(2) 0 0.0 0 0.0Total 18,001 100 17,798 100


(1) Within the framework of Laws No: 5216 and 5393 debts promised by means of exchange, set off and deduction are excluded.(2) Overdue receivables are excluded.(3) Represents privatized SOE's and corporations governed by foundations.

TIME TO MATURITY OF PROJECTED RECEIVABLES STOCK (1) (2) (YEAR)

2019 January 2020

Million ¨ % Million ¨ %

Local Administrations 10,824 66.0 10,673 65.9SOEs 2,129 13.0 2,107 13.0Banks 139 0.8 139 0.9Social Security Institutions 7 0.0 7 0.0Public Banks 1,672 10.2 1,641 10.1Public Enterprises 29 0.2 29 0.2Central Administrations 1,604 9.8 1,599 9.9Private Institutions 0 0.0 0 0.0

Total 16,405 100 16,195 100

(1) Provisional

OUTSTANDING RECEIVABLESEXCLUDING OVERDUES (1)

OUTSTANDING RECEIVABLESEXCLUDING OVERDUES (January 2020)

SOE's13.0 %21.1 %

Local Admin65.9 %

2019 January 2020

Million ¨ % Million ¨ %

Local Administrations 206 12.9 198 12.3

SOE's 1,391 87.1 1,406 87.7

Total 1,596 100 1,603 100.0

(1) Provisional

OUTSTANDING OVERDUE RECEIVABLES (1) OUTSTANDING OVERDUE RECEIVABLES(January 2020)

SOE's87.7 %

Local Admin12.3 %

December 19 January 20

Time to Maturity


Time to Maturity

Avg.Time to Maturity

Public 10.1 5.6 10.1 5.6

General Government 10.3 5.9 10.4 5.9

Central Government 6.9 6.6 7.4 7.1

Local Administrations 11.2 5.7 11.2 5.7

Social Security Institutions 9.1 4.7 9.0 4.6


Public Banks 7.2 3.9 7.2 3.9

Non Financial Institutions 11.4 5.9 11.3 5.8

SOEs 11.5 6.0 11.4 5.9

Public Enterprises 4.3 1.9 4.3 1.8

Private 7.5 3.9 7.4 3.8


Banks 7.5 3.9 7.4 3.8

Non-Financial Institutions - - - -

Companies(3) - - - -

Total 10.1 5.6 10.1 5.6


2016 2017 2018 2019 January 2020

Million ¨ % Million ¨ % Million ¨ % Million ¨ % Million ¨ %

Local Administrations 786 34.9 1,508 93.4 917 56.7 1,258 65.0 145 77.4

SOE's 322 14.3 161 10.0 207 12.8 221 11.4 0 0.0

Banks 82 3.6 101 6.3 130 8.1 87 4.5 0 0.0

Public Banks 102 4.5 123 7.6 179 11.1 168 8.7 42 22.4

Public Enterprises 264 11.7 240 14.8 14 0.9 12 0.6 0 0.0

Central Administrations 101 4.5 119 7.4 166 10.3 187 9.7 0 0.2

Organizations 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0

Insurance Institutions 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0

Private Institutions 1 0.0 1 0.1 0 0.0 0 0.0 0 0.0

Foundations 7 0.3 0 0.0 0 0.0 0 0.0 0 0.0

Social Security Institution 1 0.1 2 0.1 2 0.1 3 0.1 0 0.0

Total 1,667 74 2,256 140 1,616 100 1,937 100 188 100

(1) Provisional

COLLECTIONS FROM TREASURY RECEIVABLES (1)

COLLECTIONS FROM TREASURY RECEIVABLES( January 2020 )

Other13.3 %

LocalAdministrations

65.0 %

SOE's11.4 %Public Enterprises

0.6 %

CentralAdministrations

9.7 %


DEVELOPMENTS IN THE CREDIT RATING OF TURKEYLONG TERM FOREIGN CURRENCY

LONG TERM TLStandard & Poor's Moody’s Fitch JCR IIRA R&I DBRS

2013 BBB (stable) Baa3 (stable) BBB (stable) BBB- (stable) BBB (stable) BBB (stable)02.07.2014 BBB (negative)04.11.2014 Baa3 (negative)

2014 BBB (negative) Baa3 (negative) BBB (stable) BBB- (stable) BBB (stable) BBB (stable)05.08.2014 BBB- (negative)

2015 BBB- (negative) Baa3 (negative) BBB (stable) BBB- (stable) BBB (stable) BBB (stable)05.06.2016 BBB- (stable)07.20.2016 BB+ (negative)07.21.2016 BBB Low (negative)07.22.2016 BBB- (stable)08.19.2016 BBB- (negative)09.23.2016 Ba1 (stable)11.04.2016 BB+ (stable)

2016 BB+ (stable) Ba1 (Stable) BBB- (negative) BBB- (stable) BBB (stable) BBB Low (negative)01.27.2017 BB+ (negative) BBB- (stable)03.17.2017 Ba1 (negative)

2017 BB+ (negative) Ba1 (negative) BBB- (stable) BBB- (stable) BBB (stable)03.07.2018 Ba2 (stable)05.01.2018 BB (stable)06.01.2018 Ba2 (review for downgrade)07.13.2018 BB+ (negative)08.14.2018 BBB- (negative)08.17.2018 BB- (stable) Ba3 (negative)11.09.2018 BBB (negative)

2018 BB- (stable) Ba3 (negative) BB+ (negative) BBB- (negative) BBB (negative)06.14.2019 B1 (negative)07.12.2019 BB- (negative)11.01.2019 BB- (stable)

2019 BB- (stable) B1 (negative) BB- (stable) BBB- (negative) BBB (negative)Current BB- (stable) B1 (negative) BB- (stable) BBB- (negative) BBB (negative)

Standard & Poor's Moody’s Fitch JCR IIRA R&I DBRS2013 BB+ (stable) Baa3 (stable) BBB- (stable) BBB- (stable) BBB- (stable) BB+ (positive) BBB Low (stable)

02.07.2014 BB+ (negative)02.21.2014 BB+ (stable)04.11.2014 Baa3 (negative)

2014 BB+ (negative) Baa3 (negative) BBB- (stable) BBB- (stable) BBB- (stable) BB+ (stable) BBB Low (stable)2015 BB+ (negative) Baa3 (negative) BBB- (stable) BBB- (stable) BBB- (stable) BB+ (stable) BBB Low (stable)

05.06.2016 BB+ (stable)07.20.2016 BB (negative)07.29.2016 BB High (negative)08.19.2016 BBB- (negative)09.23.2016 Ba1 (stable)11.04.2016 BB (stable)

2016 BB (stable) Ba1 (stable) BBB- (negative) BBB- (stable) BBB- (stable) BB+ (stable) BB High (negative)01.27.2017 BB (negative) BB+ (stable)03.17.2017 Ba1 (negative)

2017 BB (negative) Ba1 (negative) BB+ (stable) BBB- (stable) BBB- (stable) BB+ (stable)03.07.2018 Ba2 (stable)05.01.2018 BB- (stable)06.01.2018 Ba2 (review for downgrade)06.06.2018 BB+ (negative)07.13.2018 BB (negative)08.14.2018 BBB- (negative)08.17.2018 B+ (stable) Ba3 (negative)09.07.2018 BB- (negative)11.09.2018 BBB- (negative)

2018 B+ (stable) Ba3 (negative) BB (negative) BBB- (negative) BBB- (negative) BB- (negative)06.14.2019 B1 (negative)07.12.2019 BB- (negative)11.01.2019 BB- (stable)15.11.2019 BB- (stable)

2019 B+ (stable) B1 (negative) BB- (stable) BBB- (negative) BBB- (negative) BB- (stable)Current B+ (stable) B1 (negative) BB- (stable) BBB- (negative) BBB- (negative) BB- (stable)

Note: Islamic International Rating Agency (IIRA) has assigned BBB credit rating for long-term local currency obligations and BBB- credit rating for long-term foreign currency obligations on January 5, 2012.


CALENDAR

Domestic Borrowing Calendar March 2020

Domestic Borrowing Calendar April 2020

Domestic Borrowing Calendar May 2020

PRIMARY DEALER BANKS

Bank Name Web-Address Phone

Akbank T.A.Ş. www.akbank.com.tr 0-212-270 00 44

DenizBank A.Ş. www.denizbank.com 0-212-336 40 00

QNB Finansbank A.Ş. www.finansbank.com.tr 0-212-318 59 01

HSBC Bank A.Ş. www.hsbc.com.tr 0-212-366 30 00

T. Ekonomi Bankası A.Ş. www.teb.com.tr 0-216-635 35 35

T.C. Ziraat Bankası www.ziraat.com.tr 0-212-285 22 80

T. Garanti Bankası A.Ş. www.garanti.com.tr 0-212-318 18 18

T. Halk Bankası A.Ş. www.halkbank.com.tr 0-312-289 20 00

T. İş Bankası A.Ş. www.isbank.com.tr 0-212-316 00 00

T. Vakıflar Bankası T.A.O. www.vakifbank.com.tr 0-212-316 70 00

Yapı Ve Kredi Bankası www.ykb.com.tr 0-212-339 70 00

Auction Date Settlement Date Maturity Date Security Type Maturity Issuance Type

03.09.2020 03.11.2020 01.29.2025 CPI Indexed Bond 5 Years Auction / Re-open

03.10.2020 03.11.2020 06.09.2021 Zero Coupon Bond 15 Months Auction / New Issuance

03.10.2020 03.11.2020 11.04.2026 Floating Coupon Bond 7 Years Auction / Re-open

03.23.2020 03.25.2020 10.20.2021 Fixed Coupon Bond 2 Years Auction / Re-open

03.24.2020 03.25.2020 06.21.2023 TLREF Indexed Bond 3 Years Auction / New Issuance

03.24.2020 03.25.2020 03.23.2022 Lease Certificate 2 Years Direct Sale


04.06.2020 04.08.2020 06.09.2021 Zero Coupon Bond 14 Months Auction / New Issuance

04.07.2020 04.08.2020 06.21.2023 TLREF Indexed Bond 3 Years Auction / Re-open

04.07.2020 04.08.2020 04.02.2025 CPI Indexed Lease Certificate 5 Years Direct Sale


04.28.2020 04.29.2020 11.04.2026 Floating Coupon Bond 7 Years Auction / Re-open



05.11.2020 05.13.2020 01.29.2025 CPI Indexed Bond 5 Years Auction / Re-open

05.11.2020 05.13.2020 06.09.2021 Zero Coupon Bond 13 Months Auction / Re-open

05.11.2020 05.13.2020 05.05.2027 Floating Coupon Bond 7 Years Auction / New Issuance


05.12.2020 05.13.2020 06.21.2023 TLREF Indexed Bond 3 Years Auction / Re-open



DATA DISSEMINATION CALENDARData Date of Dissemination

Central Government Debt StatisticsCentral Government Domestic Debt Statistics

Borrowing StatisticsAverage Cost of Domestic Borrowing 8th of each month / following business dayAverage Maturity of Domestic Borrowing 8th of each month / following business dayTRY Denominated Zero Coupon Bonds After the auctionsTRY Denominated Fixed Couponed Bonds After the auctionsTRY Denominated CPI Indexed Bonds After the auctionsTRY Denominated Floating Rate Notes After the auctionsRevenue Indexed Bonds After the auctionsArchive

Switching Auctions (2003 - 2010)FX Denominated Floating Rate Notes (2004 - 2006)FX Denominated Zero Coupon Bonds (2001 - 2007)FX Denominated Fixed Couponed Bonds (2003 - 2010)Revenue Indexed Bond Sales (2009 - 2011)Buyback Auctions (2006 - 2010)TRY Denominated Floating Rate Notes (1999 - 2011)TRY Denominated Zero Coupon Bonds (1998 - 2011)TRY Denominated Fixed Couponed (2003 - 2011)CPI Indexed Bonds (1998 - 2011)

Payment StatisticsCentral Government Domestic Debt Payments 20th of each month / following business dayCentral Government Domestic Debt Payment Projections (Monthly) 20th of each month / following business dayCentral Government Domestic Debt Payment Projections (Yearly) 20th of each month / following business day

Central Government Domestic Debt Stock - List of Securities Every MondayInformation on Securities Issued During 2000-2001 CrisisNon-Cash Domestic Debt Stock 20th of each month / following business dayComposition of Domestic Debt Stock by Holders

Composition of Domestic Debt Stock by Holders (2006 - 2010) 20th of each month / following business dayArchive

Composition of Domestic Debt Stock by Holders (2006 - 2010)Central Government External Debt Statistics

Borrowing StatisticsProgram and Project Loans of the Central Government Last business day of each monthCentral Government International Bond Issues After Issue Date

Payment StatisticsCentral Government External Debt Payments 20th of each month / following business dayCentral Government External Debt Payment Projections (Monthly) 20th of each month / following business dayCentral Government External Debt Payment Projections (Annual) 20th of each month / following business day

Central Government External Debt Stock - by Lender 20th of each month / following business dayArchive

Central Government External Debt Stock - by Lender (1986-...)Central Government Debt Stock Statistics

Central Government Debt Stock by Instrument Type 20th of each month / following business dayCentral Government Debt Stock - by Interest Type 20th of each month / following business dayAverage Time to Maturity of Central Government Debt Stock 20th of each month / following business dayArchive

Central Government Debt Stock by Instrument Type (2002 - 2010)Central Government Debt Stock - by Interest Type (2003 - 2010)

EU-Defined General Government Debt Stock StatisticsEU-Defined General Government Debt Stock Last business day of 3rd, 6th, 9th and 12th months

Public Net Debt Stock StatisticsPublic Net Debt Stock Last business day of 3rd, 6th, 9th and 12th months

External Debt Statistics of TurkeyGross External Debt Stock Statistics of Turkey

Gross External Debt Stock of Turkey Last business day of 3rd, 6th, 9th and 12th monthsGross External Debt Stock of Turkey - by Lender Last business day of 3rd, 6th, 9th and 12th monthsGross External Debt Stock of Public Sector - by Lender Last business day of 3rd, 6th, 9th and 12th monthsGross External Debt Stock of CBRT - by Lender Last business day of 3rd, 6th, 9th and 12th monthsGross External Debt Stock of Private Sector - by Lender Last business day of 3rd, 6th, 9th and 12th monthsGross External Debt Stock of Turkey - by Borrower Last business day of 3rd, 6th, 9th and 12th monthsGross External Debt Stock of Turkey - Currency Composition Last business day of 3rd, 6th, 9th and 12th monthsDebt Stock of Bonds Issued in International Markets Last business day of 3rd, 6th, 9th and 12th monthsArchive

Gross External Debt Stock of Turkey (Archive)External Debt Payment Projections of Turkey

External Debt Payment Projections of Turkey Last business day of 3rd, 6th, 9th and 12th monthsNet External Debt Stock Statistics of Turkey

Net External Debt Stock of Turkey Last business day of 3rd, 6th, 9th and 12th monthsTreasury Cash Balance Realizations

Treasury Cash Balance Realizations 5 th working day of each monthArchive

Treasury Cash Balance Realizations (2005-2011)Data on Treasury Receivables

Treasury Receivables by SourcesReceivables Arising From Undertaken Payments Due To Treasury Guarantees 20th of each month / following business dayReceivables Arising from Onlendings 20th of each month / following business dayArchive

Receivables Arising From Undertaken Payments Due To Treasury Guarantees (1992-2005)

Collections from Treasury ReceivablesCollections From Treasury Receivables 20th of each month / following business day

Treasury Receivables StockStock of Treasury Receivables 20th of each month / following business dayStock of Overdue Receivables 20th of each month / following business dayStock of Projected Receivables 20th of each month / following business day

Data on Treasury GuaranteesTreasury Repayment Guarantees

Loans Provided Under Treasury GuaranteesLoans Provided Under Treasury Guarantees Last business day of 3rd, 6th, 9th and 12th monthsLoans Provided Under Treasury Guarantees - Lender Distribution Last business day of 3rd, 6th, 9th and 12th months

Repayments of Treasury Guaranteed LoansRepayments of Treasury Guaranteed Loans 20th of each month / following business dayRepayment Projections of Loans Provided Under Treasury Guarantees Last business day of 3rd, 6th, 9th and 12th months

Treasury Guaranteed Debt StockTreasury Guaranteed External Debt Stock Last business day of 3rd, 6th, 9th and 12th monthsTreasury Guaranteed External Debt Stock- Lender Distribution Last business day of 3rd, 6th, 9th and 12th months

Treasury Investment GuaranteesPPP Projects With Treasury Investment Guarantees 20th of 6th and 12th months / following business day

Non-Guaranteed External Debt of Public InstitutionsLoans Provided By Public Institutions Without Treasury Guarantees 20th day of each month / following business dayExternal Debt Stock of Loans Provided by Public Institutions without Treasury Guarantee Last business day of 3rd, 6th, 9th and 12th months

Budget Financing StatisticsGeneral Budget Balance and Financing 20th of each month / following business dayCentral Government Budget Balance and Financing 20th of each month / following business dayArchive

General Budget Balance and Financing (2006-2010)Central Government Budget Balance and Financing (2006-2010)

Consolidated Government Sector (CGS) RealizationsCentral Governmet Budget Primary Balance -Program Definition 20th of each month / following business dayArchive

Consolidated Government Sector (2004-2010)Central Governmet Budget Primary Balance -Program Definition (2004-2010)

Special Data Dissemination Standards (SDDS) Economic and Financial Data for TurkeyEconomic and Financial Data For Turkey


ANNEX

CENTRAL GOVERNMENT EXTERNAL DEBT STOCK (1)

(1) Provisional.(2) SDR allocation is included.

Million USD 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Jan

CENTRAL GOVERNMENT EXTERNAL DEBT STOCK 78,085 79,184 81,710 85,664 85,164 81,738 82,615 90,241 91,245 96,406 95,983

Loan 33,900 32,657 30,501 30,010 26,988 24,294 22,664 23,477 22,016 20,591 20,303

Multilateral Agencies 20,868 18,808 17,722 18,412 17,206 16,071 15,133 16,428 16,054 15,145 14,931

(IMF) 5,629 2,885 864 0 0 0 0 0 0 0 0

(SDR Allocation) (2) 1,478 1,476 1,474 1,477 1,389 1,330 1,289 1,365 1,334 1,326 1,320

Bilateral Lenders 6,307 6,510 5,940 5,175 4,755 4,356 4,097 4,290 4,015 3,855 3,814

Others 6,725 7,339 6,838 6,423 5,028 3,867 3,435 2,759 1,948 1,592 1,559

Bond 44,185 46,527 51,209 55,654 58,175 57,444 59,951 66,764 69,229 75,815 75,680

% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Jan

CENTRAL GOVERNMENT EXTERNAL DEBT STOCK 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

Loan 43.4 41.2 37.3 35.0 31.7 29.7 27.4 26.0 24.1 21.4 21.2

Multilateral Agencies 26.7 23.8 21.7 21.5 20.2 19.7 18.3 18.2 17.6 15.7 15.6

(IMF) 7.2 3.6 1.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

(SDR Allocation) (2) 1.9 1.9 1.8 1.7 1.6 1.6 1.6 1.5 1.5 1.4 1.4

Bilateral Lenders 8.1 8.2 7.3 6.0 5.6 5.3 5.0 4.8 4.4 4.0 4.0

Others 8.6 9.3 8.4 7.5 5.9 4.7 4.2 3.1 2.1 1.7 1.6

Bond 56.6 58.8 62.7 65.0 68.3 70.3 72.6 74.0 75.9 78.6 78.8

GDP % 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Jan

CENTRAL GOVERNMENT EXTERNAL DEBT STOCK 10.1 9.5 9.4 9.0 9.1 9.5 9.6 10.6 11.6 12.8 ..

Loan 4.4 3.9 3.5 3.2 2.9 2.8 2.6 2.8 2.8 2.7 ..

Multilateral Agencies 2.7 2.3 2.0 1.9 1.8 1.9 1.8 1.9 2.0 2.0 ..

(IMF) 0.7 0.3 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 ..

(SDR Allocation) (2) 0.2 0.2 0.2 0.2 0.1 0.2 0.1 0.2 0.2 0.2 ..

Bilateral Lenders 0.8 0.8 0.7 0.5 0.5 0.5 0.5 0.5 0.5 0.5 ..

Others 0.9 0.9 0.8 0.7 0.5 0.4 0.4 0.3 0.2 0.2 ..

Bond 5.7 5.6 5.9 5.9 6.2 6.7 6.9 7.8 8.8 10.1 ..

DOMESTIC DEBT STOCK

Million ¨ 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 20192020

Jan

TOTAL DOMESTIC DEBT 330,005 352,841 368,778 386,542 403,007 414,649 440,124 468,644 535,448 586,142 755,052 761,907

CASH 313,232 350,379 366,355 384,672 401,754 414,000 440,077 468,598 535,402 586,097 716,478 723,601

BOND 299,196 340,854 366,355 380,988 401,754 414,000 440,077 467,574 534,428 580,601 700,995 709,993

BILL 14,036 9,525 0 3,684 0 0 0 1,025 974 5,495 15,483 13,608

NON-CASH 16,772 2,463 2,424 1,870 1,253 648 48 46 46 45 38,574 38,306

BOND 16,772 2,463 2,424 1,870 1,253 648 48 46 46 45 38,574 38,306

GDP 772,367 831,691 871,123 950,351 934,855 861,879 862,744 851,490 789,043 753,693 ..


Milli

on S

DR

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

I. Di

sbur

sem

ent

236

225

00

058

32,

622

8,89

59,

929

1,19

179

41,

666

1,99

974

92,

248

00

00

0

II. D

ebt S

ervi

ce3

1620

4118

321

910

51,

207

5,54

41,

863

3,80

55,

910

5,63

53,

741

1,50

258

21,

508

1,82

61,

328

565

Prin

cipa

l0

00

2016

521

066

868

4,91

61,

224

3,15

85,

267

5,09

23,

373

1,24

445

81,

423

1,78

01,

312

562

Inte

rest

316

2021

188

4033

962

863

964

764

454

336

825

812

485

4616

3

III. N

et F

inan

cing

(I-II

)23

320

9-2

0-4

1-1

8336

52,

517

7,68

84,

385

-672

-3,0

11-4

,245

-3,6

37-2

,992

746

-582

-1,5

08-1

,826

-1,3

28-5

65

IV. N

et F

inan

cing

Exclu

ding

Inte

rest

236

225

0-2

0-1

6537

32,

556

8,02

85,

013

-33

-2,3

64-3

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-3,0

94-2

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1,00

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80-1

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V. IM

F De

bt S

tock

(end

of p

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646

146

144

027

664

93,

205

11,2

3316

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16,2

1313

,848

10,2

477,

154

4,53

05,

534

5,07

63,

654

1,87

456

20

Milli

on U

S Do

llar (2

)19

9419

9519

9619

9719

9819

9920

0020

0120

0220

0320

0420

0520

0620

0720

0820

0920

1020

1120

1220

13

I, Di

sbur

sem

ent

344

334

00

080

03,

416

11,1

7913

,499

1,77

01,

233

2,38

03,

007

1,18

43,

463

00

00

0

II, D

ebt S

ervi

ce4

2429

5625

830

013

71,

517

7,53

72,

768

5,90

98,

447

8,47

85,

912

2,31

491

32,

322

2,80

42,

039

870

Prin

cipa

l0

00

2723

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886

1,09

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1,81

94,

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7,52

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718

2,19

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6

Inte

rest

424

2928

2611

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920

817

581

398

195

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4

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25,

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-998

-4,6

77-6

,067

-5,4

71-4

,727

1,14

9-9

13-2

,322

-2,8

04-2

,039

-870

IV, N

et F

inan

cing

Exclu

ding

Inte

rest

344

334

0-2

7-2

3251

23,

331

10,0

886,

815

-49

-3,6

72-5

,147

-4,6

54-4

,146

1,54

7-7

18-2

,191

-2,7

33-2

,016

-866

V, IM

F De

bt S

tock

(end

of p

erio

d)34

468

566

259

438

889

14,

176

14,1

1722

,086

24,0

9221

,507

14,6

4610

,762

7,15

88,

524

7,95

85,

627

2,87

786

40

NET

FIN

AN

CIN

G F

RO

M T

HE

INTE

RN

ATI

ON

AL

MO

NET

AR

Y F

UN

D (1

)

(1)

The

Min

istry

of T

reas

ury

and

Fina

nce

and

the

Cent

ral B

ank

com

bine

d. T

he M

inist

ry o

f Tre

asur

y an

d Fi

nanc

e m

ade

its la

st di

sbur

sem

ent i

n 20

08 a

nd c

ompl

eted

its r

epay

men

t obl

igat

ions

in 2

013,

whi

le T

he C

entra

l Ban

k m

ade

its la

st di

s-bu

rsem

ent i

n 20

01 a

nd c

ompl

eted

its r

epay

men

t obl

igat

ions

in 2

005.

(2)

End-

year

$/S

DR

rate

s are

use

d. A

ll $/

SDR

rate

s are

take

n fro

m th

e IM

F w

eb si

te (w

ww

.imf.o

rg).


(1)

Sinc

e O

ct 0

1, 2

001,

CB

RT is

resp

onsi

ble

for m

onito

ring

priv

ate

sect

or d

ebt.

(2)

For q

uarte

rly te

rms,

ratio

s ar

e ca

lcul

ated

usi

ng G

DP

in U

SD a

mou

nts

on a

four

qua

rter m

ovin

g ba

sis.

Sour

ce :

MTF

, CB

RT, T

UR

KST

AT

GR

OSS

EX

TER

NA

L D

EBT

of T

UR

KEY

Mill

ion

USD

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Q1

2019

Q2

2019

Q3

PUBL

IC S

ECTO

R

SHOR

T TE

RM2,

163

3,24

83,

598

4,29

08,

564

13,3

2420

,596

21,4

4718

,064

19,7

2022

,111

22,4

8324

,443

23,4

0822

,486

LONG

TER

M71

,362

75,0

8679

,915

84,8

1987

,266

92,9

8298

,339

99,8

2098

,574

103,

605

114,

063

117,

377

122,

659

122,

199

121,

674

TOTA

L (I)

73,5

2578

,334

83,5

1389

,109

95,8

3010

6,30

611

8,93

512

1,26

711

6,63

812

3,32

513

6,17

413

9,86

014

7,10

214

5,60

714

4,16

0

CBRT

SHOR

T TE

RM2,

282

1,87

41,

764

1,55

31,

239

1,03

683

334

217

639

91,

753

5,91

45,

898

6,49

26,

397

LONG

TER

M13

,519

12,1

9211

,398

10,0

128,

095

6,05

24,

401

2,14

21,

151

711

88

88

8

TOTA

L (II

)15

,801

14,0

6613

,162

11,5

659,

334

7,08

85,

234

2,48

41,

327

1,11

01,

761

5,92

25,

906

6,50

06,

405

PRIV

ATE

SECT

OR

SHOR

T TE

RM38

,697

47,3

9043

,615

71,3

9873

,314

88,0

8311

1,84

811

3,35

387

,142

81,5

0295

,851

85,4

6984

,471

86,0

2187

,983

LONG

TER

M (1

)12

1,90

814

1,08

812

8,59

511

9,78

812

7,06

614

0,95

015

6,99

616

8,93

519

5,33

720

3,71

922

0,70

920

9,43

020

9,21

020

1,56

019

5,34

1

TOTA

L (II

I)16

0,60

518

8,47

817

2,21

019

1,18

620

0,38

022

9,03

326

8,84

428

2,28

828

2,47

928

5,22

131

6,56

029

4,89

929

3,68

128

7,58

128

3,32

4

GROS

S EX

TERN

AL D

EBT

(I+II+

III)

249,

932

280,

878

268,

886

291,

861

305,

544

342,

427

393,

013

406,

040

400,

445

409,

655

454,

495

440,

681

446,

689

439,

688

433,

889

GROS

S EX

TERN

AL D

EBT

/ GDP

(%) (2

) 36

.936

.241

.637

.836

.739

.341

.443

.446

.547

.553

.355

.959

.360

.959

.1


GR

OSS

EX

TER

NA

L D

EBT

OF

TUR

KEY

- B

Y L

END

ER

Mill

ion

USD

2015

2016

2017

2018

2019

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

SHOR

T TE

RM13

1,34

212

8,96

512

1,80

310

5,38

210

9,54

211

0,31

810

6,14

810

1,62

110

7,97

711

4,83

811

6,27

311

9,71

512

3,56

012

1,47

411

7,19

711

3,86

611

4,81

211

5,92

111

6,86

6

PRIV

ATE

CRED

ITOR

S12

7,05

212

4,76

611

8,75

410

3,35

410

8,59

410

9,07

010

5,52

710

1,23

010

7,51

511

4,43

411

5,70

311

8,48

112

2,11

012

0,47

911

6,60

211

3,27

111

3,79

011

5,06

511

6,22

2

MON

ETAR

Y IN

STIT

UTIO

NS81

,131

76,1

1268

,236

51,3

4356

,072

53,8

9451

,732

47,5

1951

,643

54,0

9853

,115

53,0

9654

,120

53,7

3552

,379

48,4

8446

,517

46,7

3845

,776

NONM

ONET

ARY

INST

ITUT

IONS

45,9

2148

,654

50,5

1852

,011

52,5

2255

,176

53,7

9553

,711

55,8

7260

,336

62,5

8865

,385

67,9

9066

,744

64,2

2364

,787

67,2

7368

,327

70,4

46

OFFI

CIAL

CRE

DITO

RS32

131

621

016

717

516

584

220

277

275

423

1,12

31,

313

844

419

496

945

820

557

BOND

S (1)

3,96

93,

883

2,83

91,

861

773

1,08

353

717

118

512

914

711

113

715

117

699

7736

87

LONG

TER

M26

4,78

127

9,44

628

8,36

829

5,06

330

4,90

531

3,58

431

3,39

130

8,03

431

0,77

832

4,99

532

8,36

333

4,78

034

2,16

533

4,85

432

9,22

532

6,81

533

1,87

732

3,76

731

7,02

3

PRIV

ATE

CRED

ITOR

S12

5,05

113

6,56

314

5,09

115

0,92

715

6,84

015

9,86

716

0,37

015

5,11

415

3,00

815

3,81

315

3,59

115

6,64

615

9,33

415

8,50

015

6,58

715

4,20

315

1,25

514

6,49

114

1,49

0

MON

ETAR

Y IN

STIT

UTIO

NS11

4,35

912

5,28

813

4,07

713

9,65

414

4,88

714

7,82

014

7,45

914

2,70

614

1,38

814

1,58

514

0,89

314

3,90

714

6,92

014

6,04

614

4,32

114

2,00

813

8,82

513

3,95

812

9,09

7

NONB

ANK

FINAN

CIAL

INST

ITUT

IONS

12,6

9813

,611

14,8

5215

,558

16,2

3117

,512

17,3

3516

,333

16,2

4415

,895

16,0

4716

,041

16,6

0715

,378

15,0

6115

,212

15,2

8915

,238

15,0

09

PRIV

ATE

INVE

TSTM

ENT

& DE

V. BA

NKS

00

00

00

00

00

00

00

00

00

0

FORE

IGN

COM

MER

CİAL

BAN

KS74

,526

83,4

1390

,472

93,7

3797

,424

98,6

5698

,195

94,4

2093

,499

93,4

1992

,015

93,3

7093

,621

95,0

3393

,255

90,2

2887

,921

83,3

1680

,550

FORE

IGN

BRAN

CHES

OF

DOM

ESTI

C BA

NKS

AND

OTHE

RS27

,136

28,2

6528

,753

30,3

5931

,232

31,6

5331

,928

31,9

5331

,645

32,2

7032

,831

34,4

9636

,692

35,6

3436

,005

36,5

6935

,614

35,4

0433

,538

NONM

ONET

ARY

INST

ITUT

IONS

10,6

9211

,275

11,0

1411

,273

11,9

5312

,047

12,9

1112

,408

11,6

1912

,228

12,6

9712

,738

12,4

1412

,455

12,2

6612

,195

12,4

3112

,533

12,3

93

OFFI

CIAL

CRE

DITO

RS47

,242

48,2

5349

,319

49,7

3951

,004

51,7

4253

,302

51,2

7152

,757

57,0

3060

,101

62,0

7263

,818

59,7

6657

,283

56,3

4155

,400

57,3

5655

,193

GOVE

RNM

ENTA

L OR

GANI

ZATI

ONS

11,0

7511

,195

11,4

9911

,952

12,4

4013

,031

13,3

3713

,041

13,4

4413

,868

14,5

3715

,763

16,6

4516

,225

15,9

0216

,079

15,8

0217

,034

16,2

94

PUBL

IC F

INAN

CE IN

STUT

ITIO

NS2,

046

2,01

92,

009

1,96

12,

009

2,25

52,

252

2,06

02,

180

2,19

62,

430

2,79

63,

312

3,19

92,

966

2,93

32,

879

4,30

54,

198

CENT

RAL

BANK

S0

00

00

00

00

00

00

00

00

00

CENT

RAL

GOVE

RNM

ENTS

9792

9381

8475

7664

6462

6457

5849

4841

4036

34

OFFIC

IAL

DEVE

LOPM

ENT

BANK

S8,

932

9,08

49,

397

9,90

910

,347

10,7

0111

,010

10,9

1711

,200

11,6

1012

,043

12,9

1013

,275

12,9

7712

,888

13,1

0612

,883

12,6

9412

,062

MUL

TILA

TERA

L OR

GANI

ZATI

ONS

36,1

6737

,057

37,8

2037

,788

38,5

6338

,711

39,9

6538

,230

39,3

1343

,163

45,5

6446

,308

47,1

7443

,540

41,3

8140

,261

39,5

9840

,322

38,8

99

IMF-

INTE

RNAT

IONA

L M

ONET

ARY

FUND

1,32

81,

345

1,34

71,

330

1,34

91,

338

1,34

11,

289

1,30

41,

334

1,35

51,

365

1,39

51,

349

1,33

91,

334

1,33

11,

333

1,30

8

IMF

SDR

ALLO

CATİ

ON1,

328

1,34

51,

347

1,33

01,

349

1,33

81,

341

1,28

91,

304

1,33

41,

355

1,36

51,

395

1,34

91,

339

1,33

41,

331

1,33

31,

308

IBRD

12,1

6612

,183

12,2

3011

,920

11,7

2311

,494

11,5

3910

,986

11,0

5911

,579

11,5

5112

,187

12,5

1812

,171

12,0

8411

,834

11,5

9911

,624

11,2

17

OTHE

R M

ULTI

LATE

RAL

INST

.22

,674

23,5

2924

,243

24,5

3725

,491

25,8

7827

,085

25,9

5526

,950

30,2

4932

,659

32,7

5633

,261

30,0

2027

,958

27,0

9426

,667

27,3

6626

,375

BOND

S (1)

92,4

8894

,631

93,9

5894

,397

97,0

6110

1,97

599

,719

101,

649

105,

013

114,

152

114,

671

116,

063

119,

013

116,

588

115,

355

116,

271

125,

222

119,

919

120,

340

GROS

S EX

TERN

AL D

EBT

of T

URKE

Y39

6,12

340

8,41

141

0,17

140

0,44

541

4,44

742

3,90

241

9,53

940

9,65

541

8,75

543

9,83

344

4,63

645

4,49

546

5,72

545

6,32

844

6,42

244

0,68

144

6,68

943

9,68

843

3,88

9

(1) T

he le

nder

cla

ss o

f all

bond

s is

sued

in fo

reig

n m

arke

ts is

"mon

etar

y in

stitu

tions

" acc

ordi

ng to

the

prim

ary

mar

ket i

ssua

nce.


GR

OSS

EX

TER

NA

L D

EBT

OF

TUR

KEY

- B

Y B

OR

RO

WER

(Mill

ion

USD

)20

1520

1620

1720

1820

19

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

SHOR

T TE

RM13

1,34

212

8,96

512

1,80

310

5,38

210

9,54

211

0,31

810

6,14

810

1,62

110

7,97

711

4,83

811

6,27

311

9,71

512

3,56

012

1,47

411

7,19

711

3,86

611

4,81

211

5,92

111

6,86

6

PUBL

IC S

ECTO

R21

,445

20,3

4618

,915

18,0

6421

,207

20,0

8720

,763

19,7

2021

,134

22,1

6122

,135

22,1

1124

,038

24,0

9021

,376

22,4

8324

,443

23,4

0822

,486

GENE

RAL

GOVE

RNM

ENT

00

00

00

00

00

00

00

00

00

0Ce

ntra

l Gov

ernm

ent

00

00

00

00

00

00

00

00

00

0Lo

cal A

dmin

istra

tions

00

00

00

00

00

00

00

00

00

0Fu

nds

00

00

00

00

00

00

00

00

00

0FI

NANC

IAL

INST

ITUT

IONS

21,4

4520

,346

18,9

1518

,064

21,2

0720

,087

20,5

5019

,479

20,8

8721

,978

21,9

4722

,027

24,0

3824

,090

21,3

7622

,483

24,4

4323

,408

22,4

86Ba

nks

21,4

4520

,346

18,9

1518

,064

21,2

0720

,087

20,5

5019

,479

20,8

8721

,978

21,9

4722

,027

24,0

3824

,090

21,3

7622

,483

24,4

4323

,408

22,4

86No

n-Ba

nkin

g In

stitu

tions

00

00

00

00

00

00

00

00

00

0NO

N-FI

NANC

IAL

INST

ITUT

IONS

00

00

00

213

241

247

183

188

840

00

00

00

SOE'

s0

00

00

021

324

124

718

318

884

00

00

00

0Ot

her

00

00

00

00

00

00

00

00

00

0CB

RT29

027

020

817

617

315

713

139

91,

382

1,39

01,

298

1,75

31,

437

1,82

66,

706

5,91

45,

898

6,49

26,

397

PRIV

ATE

SECT

OR10

9,60

710

8,34

910

2,68

087

,142

88,1

6290

,074

85,2

5481

,502

85,4

6191

,287

92,8

4095

,851

98,0

8595

,558

89,1

1585

,469

84,4

7186

,021

87,9

83FI

NANC

IAL

INST

ITUT

IONS

77,8

5675

,072

68,9

0952

,017

52,5

1251

,923

48,1

2142

,845

45,1

3647

,305

47,5

5147

,843

48,3

1145

,270

41,0

9536

,632

33,8

0635

,011

35,6

14Ba

nks

75,8

1473

,201

66,6

5749

,958

50,3

3349

,395

45,9

9641

,249

43,7

0345

,207

45,3

3945

,168

45,6

7543

,012

39,3

6034

,665

32,6

8633

,639

34,3

91No

n-Ba

nkin

g In

stitu

tions

2,04

21,

871

2,25

22,

059

2,17

92,

528

2,12

51,

596

1,43

32,

098

2,21

22,

675

2,63

62,

258

1,73

51,

967

1,12

01,

372

1,22

3NO

N-FI

NANC

IAL

INST

ITUT

IONS

31,7

5133

,277

33,7

7135

,125

35,6

5038

,151

37,1

3338

,657

40,3

2543

,982

45,2

8948

,008

49,7

7450

,288

48,0

2048

,837

50,6

6551

,010

52,3

69

LONG

TER

M26

4,78

127

9,44

628

8,36

829

5,06

330

4,90

531

3,58

431

3,39

130

8,03

431

0,77

832

4,99

532

8,36

333

4,78

034

2,16

533

4,85

432

9,22

532

6,81

533

1,87

732

3,76

731

7,02

3

PUBL

IC S

ECTO

R95

,311

98,8

7099

,765

98,5

7410

0,94

110

4,81

910

4,41

610

3,60

510

6,69

111

2,98

311

3,47

811

4,06

311

6,49

111

4,73

011

5,19

011

7,37

712

2,65

912

2,19

912

1,67

4GE

NERA

L GO

VERN

MEN

T83

,499

85,3

7185

,785

84,4

4685

,860

88,0

6586

,532

85,5

2788

,203

93,3

2893

,014

93,4

7795

,217

92,7

5892

,387

94,5

2998

,739

97,4

8798

,082

Cent

ral G

over

nmen

t80

,716

82,6

2283

,002

81,7

3883

,085

85,3

7183

,522

82,6

1585

,200

90,1

1489

,737

90,2

4191

,695

89,4

4689

,057

91,2

4595

,491

94,2

7395

,037

Loca

l Adm

inis

tratio

ns2,

782

2,74

82,

783

2,70

72,

775

2,69

43,

009

2,91

23,

003

3,21

43,

276

3,23

63,

522

3,31

13,

330

3,28

43,

248

3,21

43,

045

Fund

s0

00

00

00

00

00

00

00

00

00

FINA

NCIA

L IN

STIT

UTIO

NS10

,887

12,6

1313

,092

13,2

7114

,235

15,9

2016

,962

17,1

1117

,400

18,4

6919

,172

19,2

0019

,809

20,4

8921

,318

21,3

7922

,349

23,0

7021

,948

Bank

s10

,887

12,6

1313

,092

13,2

7114

,235

15,9

2016

,962

17,1

1117

,400

18,4

6919

,172

19,2

0019

,809

20,4

8921

,318

21,3

7921

,226

21,9

3220

,855

Non-

Bank

ing

Inst

itutio

ns0

00

00

00

00

00

00

00

01,

123

1,13

81,

093

NON-

FINA

NCIA

L IN

STIT

UTIO

NS92

688

788

885

884

783

392

396

61,

088

1,18

61,

293

1,38

61,

466

1,48

31,

484

1,46

81,

572

1,64

21,

644

SOE'

s92

688

788

885

884

783

392

396

61,

088

1,18

61,

293

1,38

61,

466

1,48

31,

484

1,46

81,

462

1,47

91,

455

Othe

r0

00

00

00

00

00

00

00

011

016

318

9CB

RT1,

820

1,70

81,

344

1,15

11,

131

1,01

083

371

18

88

89

88

88

88

PRIV

ATE

SECT

OR16

7,64

917

8,86

818

7,25

819

5,33

720

2,83

320

7,75

520

8,14

120

3,71

920

4,07

821

2,00

321

4,87

622

0,70

922

5,66

522

0,11

621

4,02

720

9,43

020

9,21

020

1,56

019

5,34

1FI

NANC

IAL

INST

ITUT

IONS

87,2

5094

,960

101,

288

105,

377

107,

998

109,

740

107,

830

106,

348

106,

123

111,

061

111,

106

114,

351

116,

445

112,

942

107,

008

102,

716

102,

563

95,7

1490

,725

Bank

s68

,589

75,2

6681

,910

85,9

2787

,590

89,6

0787

,709

87,1

4688

,123

92,4

8592

,603

95,8

8397

,081

94,7

2088

,955

84,9

3185

,138

80,5

8376

,578

Non-

Bank

ing

Inst

itutio

ns18

,661

19,6

9419

,378

19,4

5020

,408

20,1

3320

,121

19,2

0218

,000

18,5

7718

,503

18,4

6719

,364

18,2

2118

,053

17,7

8617

,425

15,1

3014

,147

NON-

FINA

NCIA

L IN

STIT

UTIO

NS80

,399

83,9

0885

,970

89,9

6094

,835

98,0

1510

0,31

197

,370

97,9

5510

0,94

210

3,77

010

6,35

810

9,22

010

7,17

410

7,01

910

6,71

410

6,64

710

5,84

610

4,61

5

CO

NTI

NU

E


GR

OSS

EX

TER

NA

L D

EBT

OF

TUR

KEY

- B

Y B

OR

RO

WER

Mill

ion

USD

2015

2016

2017

2018

2019

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

GROS

S EX

TERN

AL D

EBT

of T

URKE

Y39

6,12

340

8,41

141

0,17

140

0,44

541

4,44

742

3,90

241

9,53

940

9,65

541

8,75

543

9,83

344

4,63

645

4,49

546

5,72

545

6,32

844

6,42

244

0,68

144

6,68

943

9,68

843

3,88

9

PUBL

IC S

ECTO

R11

6,75

611

9,21

611

8,68

011

6,63

812

2,14

812

4,90

612

5,17

912

3,32

512

7,82

513

5,14

413

5,61

313

6,17

414

0,52

913

8,82

013

6,56

613

9,86

014

7,10

214

5,60

714

4,16

0

GENE

RAL

GOVE

RNM

ENT

83,4

9985

,371

85,7

8584

,446

85,8

6088

,065

86,5

3285

,527

88,2

0393

,328

93,0

1493

,477

95,2

1792

,758

92,3

8794

,529

98,7

3997

,487

98,0

82

Cent

ral G

over

nmen

t80

,716

82,6

2283

,002

81,7

3883

,085

85,3

7183

,522

82,6

1585

,200

90,1

1489

,737

90,2

4191

,695

89,4

4689

,057

91,2

4595

,491

94,2

7395

,037

Loca

l Adm

inis

tratio

ns2,

782

2,74

82,

783

2,70

72,

775

2,69

43,

009

2,91

23,

003

3,21

43,

276

3,23

63,

522

3,31

13,

330

3,28

43,

248

3,21

43,

045

Fund

s0

00

00

00

00

00

00

00

00

00

FINA

NCIA

L IN

STIT

UTIO

NS32

,332

32,9

5932

,007

31,3

3535

,442

36,0

0737

,512

36,5

9038

,287

40,4

4741

,119

41,2

2743

,847

44,5

7942

,694

43,8

6246

,792

46,4

7844

,434

Bank

s32

,332

32,9

5932

,007

31,3

3535

,442

36,0

0737

,512

36,5

9038

,287

40,4

4741

,119

41,2

2743

,847

44,5

7942

,694

43,8

6245

,669

45,3

4043

,341

Non-

Bank

ing

Inst

itutio

ns0

00

00

00

00

00

00

00

01,

123

1,13

81,

093

NON-

FINA

NCIA

L IN

STIT

UTIO

NS92

688

788

885

884

783

31,

136

1,20

71,

335

1,36

91,

481

1,47

01,

466

1,48

31,

484

1,46

81,

572

1,64

21,

644

SOE'

s92

688

788

885

884

783

31,

136

1,20

71,

335

1,36

91,

481

1,47

01,

466

1,48

31,

484

1,46

81,

462

1,47

91,

455

Othe

r0

00

00

00

00

00

00

00

011

016

318

9

CBRT

2,11

01,

978

1,55

21,

327

1,30

41,

167

964

1,11

01,

390

1,39

81,

306

1,76

11,

446

1,83

46,

714

5,92

25,

906

6,50

06,

405

PRIV

ATE

SECT

OR27

7,25

628

7,21

728

9,93

828

2,47

929

0,99

529

7,82

929

3,39

528

5,22

128

9,53

930

3,29

030

7,71

631

6,56

032

3,75

031

5,67

430

3,14

229

4,89

929

3,68

128

7,58

128

3,32

4

FINA

NCIA

L IN

STIT

UTIO

NS16

5,10

617

0,03

217

0,19

715

7,39

416

0,51

016

1,66

315

5,95

114

9,19

315

1,25

915

8,36

615

8,65

716

2,19

416

4,75

615

8,21

214

8,10

313

9,34

813

6,36

913

0,72

512

6,33

9

Bank

s14

4,40

314

8,46

714

8,56

713

5,88

513

7,92

313

9,00

213

3,70

512

8,39

513

1,82

613

7,69

213

7,94

214

1,05

114

2,75

613

7,73

212

8,31

511

9,59

611

7,82

411

4,22

211

0,96

9

Non-

Bank

ing

Inst

itutio

ns20

,703

21,5

6521

,630

21,5

0922

,587

22,6

6122

,246

20,7

9819

,433

20,6

7520

,715

21,1

4222

,000

20,4

7919

,788

19,7

5318

,545

16,5

0215

,370

NON-

FINA

NCIA

L IN

STIT

UTIO

NS11

2,15

011

7,18

511

9,74

112

5,08

513

0,48

513

6,16

613

7,44

413

6,02

713

8,28

014

4,92

414

9,05

915

4,36

615

8,99

415

7,46

215

5,03

915

5,55

115

7,31

215

6,85

615

6,98

4

DEB

T ST

OC

K o

f B

ON

DS

ISSU

ED i

n IN

TER

NA

TIO

NA

L M

AR

KET

S

Mill

ion

USD

2015

2016

2017

2018

2019

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

SHOR

T TE

RM3,

969

3,88

32,

839

1,86

177

31,

083

537

171

185

129

147

111

137

151

176

9977

3687

PUBL

IC S

ECTO

R39

835

024

426

211

173

5925

011

1212

4910

2216

3036

50

PRIV

ATE

SECT

OR3,

571

3,53

32,

595

1,59

966

21,

010

478

146

185

118

135

9988

141

154

8347

037

LONG

TER

M92

,488

94,6

3193

,958

94,3

9797

,061

101,

975

99,7

1910

1,64

910

5,01

311

4,15

211

4,67

111

6,06

311

9,01

311

6,58

811

5,35

511

6,27

112

5,22

211

9,91

912

0,34

0

PUBL

IC S

ECTO

R60

,972

62,5

8662

,748

62,4

7964

,170

67,8

2465

,964

66,4

8568

,445

73,5

1473

,516

74,1

2275

,093

74,7

2774

,603

77,0

8782

,292

79,8

7981

,003

PRIV

ATE

SECT

OR31

,516

32,0

4531

,210

31,9

1832

,892

34,1

5133

,754

35,1

6336

,567

40,6

3841

,155

41,9

4143

,920

41,8

6140

,752

39,1

8442

,930

40,0

4039

,336

TOTA

L96

,457

98,5

1496

,797

96,2

5897

,834

103,

058

100,

256

101,

820

105,

198

114,

281

114,

818

116,

174

119,

150

116,

739

115,

531

116,

370

125,

299

119,

955

120,

427

PUBL

IC S

ECTO

R61

,370

62,9

3662

,992

62,7

4164

,281

67,8

9766

,023

66,5

1068

,445

73,5

2573

,528

74,1

3475

,142

74,7

3774

,625

77,1

0382

,322

79,9

1581

,053

PRIV

ATE

SECT

OR35

,087

35,5

7833

,805

33,5

1733

,554

35,1

6134

,232

35,3

0936

,752

40,7

5641

,290

42,0

4044

,008

42,0

0240

,906

39,2

6742

,977

40,0

4039

,373


GROSS EXTERNAL DEBT of TURKEY - CURRENCY COMPOSITION

TOTAL

Million US Dollar

2016 2017 2018 2019

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

TOTAL 414,447 423,902 419,539 409,655 418,755 439,833 444,636 454,495 465,725 456,328 446,422 440,681 446,689 439,688 433,889

USD 233,153 239,584 236,541 240,030 244,823 255,462 256,931 261,638 267,997 266,755 262,593 255,665 262,954 256,380 257,048

EUR 136,750 137,927 137,868 130,965 132,628 141,176 145,393 148,565 151,848 146,103 143,890 141,414 140,442 141,081 135,128

JPY 8,980 10,004 10,023 8,619 8,931 8,687 8,622 9,072 9,548 9,196 8,577 8,717 8,600 8,799 8,760

SDR 1,379 1,368 1,372 1,322 1,342 1,372 1,396 1,408 1,439 1,391 1,380 1,372 1,370 1,370 1,344

TL 29,181 30,038 29,289 24,341 26,233 28,059 27,005 28,093 29,207 27,232 21,820 26,399 26,074 24,132 23,573

OTHER 5,004 4,982 4,446 4,379 4,798 5,076 5,290 5,720 5,687 5,651 8,162 7,115 7,250 7,927 8,035

LONG TERM

Million US Dollar

2016 2017 2018 2019


TOTAL 304,905 313,584 313,391 308,034 310,778 324,995 328,363 334,780 342,165 334,854 329,225 326,815 331,877 323,767 317,023

USD 180,114 186,291 184,642 189,288 192,120 199,270 199,191 200,840 205,808 205,172 203,085 199,050 205,735 198,854 198,329

EUR 100,856 101,986 104,486 97,784 97,549 104,154 107,383 110,801 113,246 108,304 107,497 107,743 106,683 105,726 99,686

JPY 8,818 9,797 9,789 8,400 8,709 8,498 8,393 8,816 9,255 8,816 8,307 8,433 8,320 8,511 8,455

SDR 1,379 1,368 1,372 1,322 1,342 1,372 1,396 1,408 1,439 1,391 1,380 1,372 1,370 1,370 1,344

TL 11,500 11,919 11,321 9,642 9,478 10,077 10,372 11,356 10,817 9,732 7,565 8,930 8,510 8,019 7,829

OTHER 2,238 2,224 1,781 1,599 1,580 1,623 1,629 1,560 1,601 1,439 1,391 1,288 1,260 1,288 1,379

SHORT TERM

Million US Dollar

2016 2017 2018 2019


TOTAL 109,542 110,318 106,148 101,621 107,977 114,838 116,273 119,715 123,560 121,474 117,197 113,866 114,812 115,921 116,866

USD 53,039 53,293 51,899 50,742 52,703 56,192 57,740 60,798 62,189 61,583 59,508 56,615 57,219 57,526 58,719

EUR 35,894 35,941 33,382 33,181 35,079 37,022 38,010 37,764 38,602 37,799 36,393 33,671 33,759 35,355 35,442

JPY 162 207 234 219 222 189 229 256 293 380 270 284 280 288 305

SDR 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

TL 17,681 18,119 17,968 14,699 16,755 17,982 16,633 16,737 18,390 17,500 14,255 17,469 17,564 16,113 15,744

OTHER 2,766 2,758 2,665 2,780 3,218 3,453 3,661 4,160 4,086 4,212 6,771 5,827 5,990 6,639 6,656


TREASURY GUARANTEED EXTERNAL DEBT STOCK (1)

(1) Provisional.

BORROWER (Million US Dollar) 2012 2013 2014 2015 2016 2017 2018 2019 Q1 2019 Q2 2019 Q3

PUBLIC 6,372 7,300 7,740 8,317 9,305 10,826 10,631 11,663 11,624 11,357

GENERAL GOVERNMENT 1,164 1,114 939 1,089 987 976 859 842 823 799

CENTRAL GOVERNMENT 0 0 0 300 300 300 300 300 300 300

DIRECTORATE GENERAL OF FOUNDATIONS 0 0 0 300 300 300 300 300 300 300

LOCAL ADMINISTRATIONS 1,161 1,113 938 789 687 676 559 542 523 499

MUNICIPALITY OF ADANA GREATER CITY 125 99 74 48 22 16 10 10 8 8

MUNICIPALITY OF ANTALYA GREATER CITY 78 82 71 60 55 58 51 50 49 47

ASAT - ANTALYA WATER AND SEWERAGE ADMINISTRATION 8 5 2 0 0 0 0 0 0 0

ASKI - ADANA WATER AND SEWERAGE ADMINISTRATION 16 11 5 0 0 0 0 0 0 0

ASKI - ANKARA WATER AND SEWERAGE ADMINISTRATION 0 0 0 0 0 0 0 0 0 0

MUNICIPALITY OF BANDIRMA 0 0 0 0 0 0 0 0 0 0

MUNICIPALITY OF BURSA GREATER CITY 131 136 118 103 95 102 91 89 87 84

BUSKI - BURSA WATER AND SEWERAGE ADMINISTRATION 56 52 45 53 67 68 57 56 56 54

CESME AND ALACATI MUNICIPALITES UNION 2 1 0 0 0 0 0 0 0 0

MUNICIPALITY OF ESKISEHIR GREATER CITY 138 129 113 99 88 84 71 71 66 64

MUNICIPALITY OF FOCA 0 0 0 0 0 0 0 0 0 0

GASKI - GAZIANTEP WATER AND SEWERAGE ADMINISTRATION 1 0 0 0 0 0 0 0 0 0

METROPOLITAN MUNICIPALITY OF ISTANBUL 154 138 116 96 65 44 20 19 13 12

MUNICIPALITY OF IZMIR GREATER CITY 142 146 125 108 98 105 94 89 90 85

MUNICIPALITY OF KAYSERI GREATER CITY 78 70 51 37 26 20 9 9 8 7

MUNICIPALITY OF KOCAELİ GREATER CITY 0 0 0 0 0 0 0 0 0 0

MERSIN WATER & SEWERAGE ADMINISTRATION 60 56 44 34 28 26 19 18 15 15

MUNICIPALITY OF SAMSUN GREATER CITY 150 154 132 112 101 106 93 90 89 84

SAMSUN WATER & SEWERAGE ADMINISTRATION SASKİ 4 15 27 27 32 36 34 33 33 31

MUNICIPALITY OF ZONGULDAK 18 18 15 12 11 11 10 9 9 8

FUNDS 3 0 0 0 0 0 0 0 0 0

T. DEFENSE INDUSTRY SUPPORT FUND 3 0 0 0 0 0 0 0 0 0

FINANCIAL INSTITUTIONS 3,994 5,028 5,812 6,370 7,515 8,715 8,554 9,489 9,406 9,163

PUBLIC BANKS 3,994 5,028 5,812 6,370 7,515 8,715 8,554 8,366 8,268 8,071

GENERAL DIRECTORATE OF ILLER BANK 230 259 265 296 343 511 582 587 641 636

T. HALK BANK INC. 1,286 1,438 1,400 1,340 1,452 1,660 1,411 1,346 1,308 1,230

T. EXIMBANK INC. 494 576 714 821 1,211 1,515 1,610 1,568 1,541 1,559

T. DEVELOPMENT BANK INC. 891 1,086 1,186 1,235 1,477 1,693 1,894 1,916 1,933 1,897

TVB - T. FOUNDATION BANK 827 1,348 1,449 1,626 1,711 1,743 1,476 1,404 1,340 1,296

T.C. ZIRAAT BANK INC. 267 322 798 1,051 1,320 1,592 1,581 1,544 1,504 1,453

NON-BANK SECTOR 0 0 0 0 0 0 0 1,123 1,138 1,093

TURKEY WEALTH FUND 0 0 0 0 0 0 0 1,123 1,138 1,093

NON FINANCIAL INSTITUTIONS 1,214 1,158 989 858 803 1,136 1,218 1,332 1,395 1,395

SOEs 1,214 1,158 989 858 803 1,136 1,218 1,222 1,232 1,232

BOTAS - T. PETROLEUM PIPELINE CORP. 247 303 352 377 356 624 713 718 718 718

EUAS - ELECTRICITY PRODUCTION INC. 275 203 117 44 10 0 0 0 0 0

TCDD T. STATE RAILWAYS 0 0 0 0 0 0 0 0 0 0

TEDAŞ - T. ELECTRICITY DISTRIBUTION INC. 436 436 365 308 275 287 249 236 235 235

TEIAS - T. ELECTRICITY TRANSMISSION INC. 255 217 156 130 161 225 256 267 279 279

PUBLIC ENTERPRISES 0 0 0 0 0 0 0 110 163 163

TURKSAT COMPANY 0 0 0 0 0 0 0 110 163 163

OTHER 0 0 0 0 0 0 0 0 0 0

ISTANBUL OLIMPIC GAMES PREPERATION & ORGANIZING BOARD 0 0 0 0 0 0 0 0 0 0

PRIVATE 3,379 3,507 3,416 3,291 3,256 3,326 3,236 3,182 3,121 2,998

FINANCIAL INSTITUTIONS 3,367 3,506 3,416 3,291 3,256 3,326 3,236 3,182 3,121 2,998

BANKS 3,367 3,506 3,416 3,291 3,256 3,326 3,236 3,182 3,121 2,998

TSKB- T. INDUSTRIAL DEVELOPMENT BANK INC. 3,367 3,506 3,416 3,291 3,256 3,326 3,236 3,182 3,121 2,998

NON FINANCIAL INSTITUTIONS 12 1 0 0 0 0 0 0 0 0

THY - TURKISH AIRLINES 6 1 0 0 0 0 0 0 0 0

TUPRAS - TURKISH PETROLEUM RAFINERIES 6 0 0 0 0 0 0 0 0 0

TOTAL 9,751 10,807 11,157 11,608 12,561 14,152 13,867 14,844 14,745 14,354

Total Stock/GDP (%) 1.1 1.1 1.2 1.3 1.5 1.7 1.8


BORROWER (Million US Dollar) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020(2)

GRAND TOTAL 124 118 123 33 28 27 11 20 49 0.2

GUARANTEED EXTERNAL DEBT 47 41 32 32 28 27 11 20 49 0.2

PUBLIC 47 41 32 32 28 27 11 20 49 0.2

GENERAL GOVERNMENT 47 41 32 32 28 27 11 20 49 0.2

CENTRAL GOVERNMENT 0 0 0 0 0 0 0 0 22 0

DIRECTORATE GENERAL OF FOUNDATIONS 0 0 0 0 0 0 0 0 22 0

LOCAL ADMINISTRATIONS 47 41 32 32 28 27 11 20 27 0.2

MUNICIPALITY OF ADANA GREATER CITY 29 28 28 27 27 26 6 6 6 0

ASAT - ANTALYA WATER AND SEWERAGE ADMINISTRATION 9 6 3 3 0 0 0 0 0 0

MUNICIPALITY OF BANDIRMA 2 0 0 0 0 0 0 0 0 0

MUNICIPALITY OF BURSA GREATER CITY 0 0 0 0 0 0 0 5 10 0

MUNICIPALITY OF KAYSERİ GREATER CITY 0 0 0 0 0 0 4 8 2 0

MUNICIPALITY OF KOCAELİ GREATER CITY 7 6 0 0 0 0 0 0 0 0

MUNICIPALITY OF MILAS 0 0 0 0 0 0 0 0 0 0

MUNICIPALITY OF SAMSUN GREATER CITY 0 0 0 0 0 0 0 0 8 0

MUNICIPALITY OF ZONGULDAK 0 0 1 1 1 1 1 1 1 0.2

NON - FINANCIAL INSTITUTIONS 1 0 0 0 0 0 0 0 0 0

SOEs 1 0 0 0 0 0 0 0 0 0

EUAS - ELECTRICITY PRODUCTION INC. 0 0 0 0 0 0 0 0 0 0

TCDD - T. STATE RAILWAYS 1 0 0 0 0 0 0 0 0 0

TEIAS - T.ELECTRICITY TRANSMISSION INC. 0 0 0 0 0 0 0 0 0 0

OTHER 0 0 0 0 0 0 0 0 0 0

ISTANBUL OLIMPIC GAMES PREPARATION & ORGANIZING BOARD 0 0 0 0 0 0 0 0 0 0

BOT PRODUCT SALE GUARANTEES 77 77 91 2 0 0 0 0 0 0

PUBLIC 77 77 91 2 0 0 0 0 0 0

GENERAL GOVERNMENT 77 77 91 2 0 0 0 0 0 0

LOCAL ADMINISTRATIONS 77 77 91 2 0 0 0 0 0 0

MUNICIPALITY OF KOCAELI GREATER CITY 77 77 91 2 0 0 0 0 0 0

Payments Undertaken by Treasury /GDP (%) 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00

PAYMENTS UNDERTAKEN DUE TO TREASURY GUARANTEES (1)

(1) Provisional.(2) As of January 01, 2020.


BORROWER (Million ¨)OVERDUE

RECEIVABLES

OUTSTANDING RECEIVABLESTOTAL

PRINCIPAL OTHER TOTAL

GRAND TOTAL 1,603 13,818 2,377 16,195 17,798PUBLIC SECTOR 1,603 13,680 2,377 16,056 17,660

GENERAL GOVERNMENT 198 9,903 2,377 12,279 12,477SOCIAL SECURITY INSTITUTIONS 0 7 0 7 7

SOCIAL SECURITY INSTITUTION 0 7 0 7 7CENTRAL GOVERNMENT 0 1,599 0 1,599 1,599

COMMITTEE OF BANKRUPTCY OF IMAR BANKASI T.A.Ş. 0 995 0 995 995 PRIVATIZATION ADMINISTRATION 0 476 0 476 476DIRECTORATE GENERAL OF FOUNDATIONS 0 129 0 129 129

LOCAL GOVERNMENTS 198 8,296 2,377 10,673 10,870MUNICIPALITY OF ADANA GREATER CITY 192 951 62 1,014 1,205MUNICIPALITY OF ANKARA GREATER CITY 0 367 0 367 367MUNICIPALITY OF ANTALYA GREATER CITY 0 205 0 205 205GENERAL DIRECTORATE OF ANTALYA WATER AND SEWERAGE 0 13 0 13 13ADANA WATER AND SEWERAGE ADMINISTRATION 0 121 0 121 121ANKARA WATER AND SEWERAGE ADMINISTRATION 0 181 4 185 185AYDIN WATER AND SEWERAGE ADMINISTRATION 0 86 43 128 128MUNICIPALITY OF BATMAN 0 103 0 103 103MUNICIPALITY OF BURSA GREATER CITY 0 351 0 351 351BUSKİ - BURSA WATER AND SEWERAGE ADMINISTRATION 0 138 0 138 138MUNICIPALITY OF DENIZLI GREATER CITY 0 26 0 26 26DİYARBAKIR WATER AND SEWERAGE ADMINISTRATION 0 109 0 109 109ERZURUM WATER AND SEWERAGE ADMINISTRATION 0 5 0 5 5ESKİŞEHİR WATER AND SEWERAGE ADMINISTRATION 0 16 0 16 16GAZİANTEP WATER AND SEWERAGE ADMINISTRATION 0 209 133 342 342MUNICIPALITY OF GAZIANTEP GREATER CITY 0 17 0 17 17İSTANBUL WATER & SEWERAGE ADMINISTARATION 0 19 0 19 19MUNICIPALITY OF İZMİR GREATER CITY 0 15 0 15 15İZSU - İZMİR WATER AND SEWERAGE ADMINISTRATION 0 27 0 27 27KAYSERİ METROPOLITAN MUNICIPALITY 0 23 0 23 23KAYSERİ WATER AND SEWERAGE ADMINISTRATION 0 91 0 91 91MUNICIPALITY OF KOCAELI GREATER CITY 0 4,010 1,788 5,798 5,798KONYA WATER AND SEWERAGE ADMINISTRATION 0 25 0 25 25MASKİ – MALATYA WATER AND SEWERAGE ADMINISTRATION 0 88 0 88 88MUNICIPALITY OF MERSİN GREATER CITY 0 1 0 1 1MESKİ - MERSİN WATER AND SEWERAGE ADMINISTRATION 0 53 0 53 53MUGLA WATER AND SEWERAGE ADMINISTRATION 0 414 190 604 604MUNICIPALITY OF SAKARYA GREATER CITY 6 284 117 401 407MUNICIPALITY OF SAMSUN GREATER CITY 0 80 0 80 80SASKİ - SAMSUN WATER AND SEWERAGE ADMINISTRATION 0 61 0 61 61MUNICIPALITY OF SİİRT 0 25 0 25 25MUNICIPALITY OF SİVAS 0 85 0 85 85MUNICIPALITY OF YOZGAT 0 28 39 67 67MUNICIPALITY OF ZONGULDAK 0 68 0 68 68

NON-FINANCIAL INSTITUTIONS 1,406 2,136 0 2,136 3,541SOEs 1,406 2,107 0 2,107 3,512

PETROLEUM PIPELINE CORP. 0 6 0 6 6ELECTRICITY GENERATION CO. INC. 0 94 0 94 94TURKISH STATE RAILWAYS 1,406 1,323 0 1,323 2,728TURKISH ELECTRICITY TRANSMISSION INC. 0 684 0 684 684

PUBLIC CORPORATIONS 0 29 0 29 29İSTANBUL GAS DISTRIBUTION COMPANY 0 29 0 29 29

FINANCIAL INSTITUTIONS 0 1,641 0 1,641 1,641PUBLIC BANKS 0 1,641 0 1,641 1,641

T. HALK BANK 0 312 0 312 312DEVELOPMENT BANK OF TURKEY 0 1,324 0 1,324 1,324T. VAKIFLAR BANK T.A.O. 0 5 0 5 5

PRIVATE SECTOR 0 139 0 139 139FINANCIAL INSTITUTIONS 0 139 0 139 139

BANKS 0 139 0 139 139TURKISH INDUSTRIAL DEVELOPMENT BANK 0 139 0 139 139

OUTSTANDING TREASURY RECEIVABLES (1) (2)

(1) Provisional (Includes only Treasury Receivables arised from Law no: 4749). (2) As of January 01, 2020.


OUTSTANDING OVERDUE RECEIVABLES (1)

BORROWER (Million ¨) 2011 2012 2013 2014 2015 2016 2017 2018 2019 Jan2020

GRAND TOTAL 8,606 7,864 5,012 360 3,935 3,830 3,876 1,177 1,596 1,603PUBLIC SECTOR 8,606 7,864 5,012 360 3,935 3,830 3,876 1,177 1,596 1,603

GENERAL GOVERNMENT 7,976 7,560 4,919 115 3,511 3,186 3,051 113 206 198CENTRAL GOVERNMENT 73 80 86 93 100 0 0 0 0 0

İSTANBUL UNIVERSITY (PRESIDENCY) 0 0 0 0 0 0 0 0 0 0TURKISH STANDARDS INSTITUTION 73 80 86 93 100 0 0 0 0 0

LOCAL GOVERNMENTS 7,903 7,480 4,832 22 3,411 3,186 3,051 113 206 198MUNICIPALITY OF ADANA GREATER CITY 40 116 167 20 352 9 24 89 191 192MUNICIPALITY OF ALANYA 0 0 0 0 0 0 0 0 0 0MUNICIPALITY OF ANKARA GREATER CITY 2,416 2,230 113 0 0 0 0 0 0 0ADANA WATER AND SEWERAGE ADMINISTRATION 0 0 0 0 0 0 0 0 0 0ANKARA WATER AND SEWERAGE ADMINISTRATION 310 0 0 0 0 0 0 0 0 0MUNICIPALITY OF BAFRA 0 0 0 0 0 0 0 0 0 0MUNICIPALITY OF BANDIRMA 71 81 89 0 0 0 0 0 0 0MUNICIPALITY OF BATMAN 1 0 0 0 0 0 0 0 0 0MUNICIPALITY OF DALAMAN 0 0 1 0 0 0 0 0 0 0MUNICIPALITY OF DIDIM 12 153 162 0 0 0 0 0 0 0DİYARBAKIR WATER AND SEWEREGE ADMINISTRATION 0 0 0 0 0 0 0 11 0.04 0ELECTRICITY, GAS AND OMNIBUS AUTH. OF ANKARA 1,768 1,176 259 0 15 1 1 1 2 0ERZURUM WATER AND SEWERAGE ADMINISTRATION 0 0 0 0 0 0 0 0 0 0MUNICIPALITY OF FOÇA 0 0 0 0 0 0 0 0 0 0GAZIANTEP WATER AND SEWERAGE ADMINISTRATION 0 0 0 0 0 0 0 0 0 0MUNICIPALITY OF GAZIANTEP GREATER CITY 0 0 0 0 0 0 0 0 0 0MUNICIPALITY OF ISKENDERUN 3 36 32 0 0 0 0 0 0 0MUNICIPALITY OF IZMIR GREATER CITY 0 0 0 0 0 0 0 0 0 0IZMIR WATER AND SEWERAGE AUTHORITY 0 0 0 0 0 0 0 0 0 0MUNICIPALITY OF KOCAELI GREATER CITY 1,942 2,188 2,481 0 2,915 3,047 3,026 0 0 0UNION OF MARMARIS-ICMELER-ARMUTALAN MUNICIPALITIES 1,301 1,356 1,411 0 0 0 0 0 0 0MUNICIPALITY OF MERSİN GREATER CITY 0 0 0 0 0 0 0 0 0 0MUNICIPALITY OF MILAS 1 2 5 0 0 0 0 0 0 0MUNICIPALITY OF SAKARYA GREATER CITY 9 112 111 1 127 128 0 11 11 6MUNICIPALITY OF SAMSUN GREATER CITY 0 0 0 0 0 0 0 0 2 0MUNICIPALITY OF SIIRT 0 0 0 0 0 0 0 0 0 0MUNICIPALITY OF SANLIURFA 29 30 0 0 0 0 0 0 0 0MUNICIPALITY OF YOZGAT 0 0 0 0 0 0 0 0 0 0

FUNDS 0 0 0 0 0 0 0 0 0 0PUBLIC PARTICIPATION FUND (2) 0 0 0 0 0 0 0 0 0 0SDIF-SAVING DEPOSIT INSURANCE FUND 0 0 0 0 0 0 0 0 0 0

NON-FINANCIAL INSTITUTIONS 630 304 93 245 425 644 825 1,064 1,391 1,406SOEs 630 304 93 245 425 644 825 1,064 1,391 1,406

ELECTRICITY GENERATION CO. INC. 0 0 0 0 0 0 0 0 0 0TURKISH STATE RAILWAYS 630 304 93 245 425 644 825 1,064 1,391 1,406TURKISH IRON AND STEEL WORKS 0 0 0 0 0 0 0 0 0 0

PUBLIC CORPORATIONS 0 0 0 0 0 0 0 0 0 0İZMİT GAS DISTRIBUTION COMPANY 0 0 0 0 0 0 0 0 0 0

PRIVATE SECTOR 0 0 0 0 0 0 0 0 0 0NON-FINANCIAL INSTITUTIONS 0 0 0 0 0 0 0 0 0 0

FOUNDATIONS 0 0 0 0 0 0 0 0 0 0Grand Total / GDP (%) 0.7 0.6 0.5 0.3 0.0 0.2 0.1 0.1 0.0

(1) Provisional (Includes only Treasury Receivables arised from Law no:4749).(2) The receivables regarding Public Participation Fund have been waived on the basis of article no:29 of Budget Law for 2007.


COLLECTIONS FROM RECEIVABLES (1)

CONTINUE

(1) Provisional (Collections from Treasury Receivables arised from Law no:4749)


GRAND TOTAL 3,809.1 2,606.4 2,446.2 2,492.6 1,222.1 1,667.1 2,255.9 1,615.5 1,936.7 187.5PUBLIC SECTOR 3,701.2 2,547.4 2,282.2 2,374.3 1,093.5 1,577.2 2,153.4 1,485.1 1,849.6 187.5GENERAL GOVERNMENT 629.4 855.1 1,428.1 908.5 273.7 889.0 1,629.6 1,085.2 1,448.3 145.5

SOCIAL SECURITY INSTITUTIONS 1.5 1.5 0.9 1.1 1.2 1.4 1.8 2.4 2.8 0.0SOCIAL SECURITY INSTITUTION 1.5 0.9 1.1 1.2 1.4 1.8 1.8 2.4 2.8 0.0SSO-SOCIAL SECURITY ORGANIZATION 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

CENTRAL GOVERNMENT 71.6 74.9 71.0 80.5 88.3 101.4 119.4 166.0 187.1 0.3ENERGY MARKET REGULATORY AUTHORITY 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0GENERAL DIRECTORATE OF MINERAL RESEARCH AND EXPLORATION 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0COMMITTEE OF BANKRUPTCY OF IMAR BANKASI T.A.Ş. 0.0 4.5 0.0 0.0 0.8 1.0 1.5 3.4 0.0 0.0PRIVATIZATION ADMINISTRATION 64.6 63.1 63.4 72.1 78.2 89.7 111.7 154.2 182.3 0.0SULEYMAN DEMIREL UNIVERSITY 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TURKISH STANDARDS INSTITUTION 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TUBITAK - MARMARA RESEARCH CENTER 1.1 1.2 1.3 1.5 1.7 2.0 0.0 0.0 0.0 0.0TUBITAK - NATIONAL METROLOGY INSTITUTE 1.5 1.7 1.7 2.0 2.3 2.8 0.0 0.0 0.0 0.0TURKISH PATENT INSTITUTE 0.5 0.6 0.6 0.7 0.8 0.9 0.0 0.0 0.0 0.0TURKISH ATOMIC ENERGY AUTHORITY 3.9 3.7 4.0 4.3 4.6 5.1 6.2 8.5 4.8 0.0VAKIFLAR GENEL MÜDÜRLÜĞÜ 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3

LOCAL GOVERNMENTS 557.4 778.8 1,356.1 826.9 184.2 786.2 1,508.5 916.7 1,258.3 145.2MUNICIPALITY OF ADANA GREATER CITY 41.7 56.0 56.4 55.0 2.3 83.2 126.5 61.2 82.9 19.7MUNICIPALITY OF ALANYA 1.6 4.5 5.0 1.9 0.0 0.0 0.0 0.0 0.0 0.0MUNICIPALITY OF ANKARA GREATER CITY 71.1 256.1 297.1 135.5 6.8 137.3 561.7 297.9 33.2 8.0MUNICIPALITY OF ANTALYA GREATER CITY 4.6 4.2 2.2 2.4 2.6 2.8 17.8 23.7 27.0 0.0GENERAL DIRECTORATE OF ANTALYA WATER AND SEWERAGE 15.5 16.3 8.7 19.3 6.4 1.2 1.5 2.0 2.3 0.0ADANA WATER AND SEWERAGE ADMINISTRATION 6.7 6.3 7.4 7.6 8.1 8.9 10.7 14.1 16.0 0.0ANKARA WATER AND SEWERAGE ADMINISTRATION 20.2 29.3 52.2 45.5 28.6 31.4 59.0 61.3 69.6 6.5AYDIN WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 12.1 0.0 9.5 36.8 19.1 28.0 7.4MUNICIPALITY OF BAFRA 0.0 0.3 0.5 0.2 0.0 0.0 0.0 0.0 0.0 0.0BALIKESIR WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 13.8 2.2 29.9 32.9 0.0 0.0 0.0MUNICIPALITY OF BANDIRMA 3.6 5.2 6.2 2.7 0.0 0.0 0.0 0.0 0.0 0.0MUNICIPALITY OF BATMAN 2.5 2.5 3.2 5.6 5.7 6.3 7.6 10.4 11.5 0.0MUNICIPALITY OF BURSA GREATER CITY 36.5 28.4 25.0 27.3 28.9 31.3 38.7 52.7 108.5 4.9BURSA WATER AND SEWERAGE ADMINISTRATION 0.2 0.2 0.2 0.3 3.5 7.3 9.8 14.9 17.2 0.0MUNICIPALITY OF DALAMAN 1.8 2.5 1.5 0.7 0.0 0.0 0.0 0.0 0.0 0.0MUNICIPALITY OF DENIZLI 1.4 1.3 1.5 1.6 1.6 1.8 2.2 2.9 3.3 0.0MUNICIPALITY OF DIDIM 0.1 0.6 0.8 0.4 0.0 0.0 0.0 0.0 0.0 0.0DIYARBAKIR WATER AND SEWERAGE ADMINISTRATION 8.0 8.7 9.9 10.6 11.3 12.8 15.6 9.7 37.2 0.0ELECTRICITY, GAS AND OMNIBUS AUTH. OF ANKARA 0.0 0.0 630.1 125.3 9.8 156.8 0.9 1.1 339.8 1.6ERZURUM WATER AND SEWERAGE ADMINISTRATION 1.5 1.6 1.6 1.8 2.3 2.4 2.9 4.2 4.6 0.0ELECTRICITY, GAS AND OMNIBUS AUTH. OF IZMIR 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0ESKISEHIR WATER AND SEWERAGE ADMINISTRATION 0.9 0.9 1.0 1.1 1.2 1.3 1.6 2.1 2.4 0.0MUNICIPALITY OF FETHIYE 2.2 2.1 2.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0MUNICIPALITY OF FOCA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0GAZIANTEP WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 32.7 0.0 0.4 26.5 42.9 68.4 16.7MUNICIPALITY OF GAZIANTEP GREATER CITY 1.5 23.1 39.7 1.3 1.3 1.5 1.8 2.5 2.8 0.0HATAY WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 16.2 0.0 0.3 90.6 7.1 0.0 0.0MUNICIPALITY OF ISKENDERUN 2.2 5.8 6.0 3.2 0.0 0.0 0.0 0.0 0.0 0.0ISTANBUL WATER AND SEWERAGE ADMINISTRATION 9.3 8.7 9.9 10.4 10.9 12.1 12.1 4.9 5.6 0.0MUNICIPALITY OF IZMIR GREATER CITY 217.8 167.7 1.1 1.1 1.2 1.4 1.1 1.5 1.7 0.0IZMIR WATER AND SEWERAGE AUTHORITY 0.0 0.0 0.0 0.2 0.5 0.8 1.0 1.5 1.6 0.0MUNICIPALITY OF KAYSERI GREATER CITY 1.5 1.6 1.4 1.6 0.0 0.0 0.0 16.4 36.2 2.5KAYSERİ WATER AND SEWERAGE ADMINISTRATION 8.1 6.4 6.2 6.3 6.7 7.4 9.0 11.7 13.4 0.0MUNICIPALITY OF KOCAELI GREATER CITY 57.3 87.7 95.4 164.0 0.1 105.5 276.4 145.5 209.6 58.0MUNICIPALITY OF KONYA GREATER CITY 1.3 1.2 1.4 1.5 1.5 1.5 0.0 0.0 0.0 0.0KONYA WATER AND SEWERAGE ADMINISTRATION 1.4 1.5 1.5 1.7 2.0 2.8 3.3 3.0 1.6 0.8MASKİ - MALATYA WATER AND SEWERAGE ADMINISTRATION 2.5 3.7 4.4 4.5 4.7 5.2 6.4 8.4 9.5 0.0UNION OF MARMARIS-ICMELER-ARMUTALAN MUNICIPALITIES 0.6 2.3 2.8 1.1 0.0 0.0 0.0 0.0 0.0 0.0MUNICIPALITY OF MENEMEN 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0MUNICIPALITY OF MERSIN GREATER CITY 0.1 0.1 0.1 0.1 0.1 0.0 0.2 0.2 0.2 0.0MERSIN WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 12.1 12.5 13.2 16.0 22.9 16.7 0.0MUNICIPALITY OF MILAS 1.7 2.4 1.8 0.6 0.0 0.0 0.0 0.0 0.0 0.0MUGLA WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 41.6 8.7 36.8 63.7 28.4 48.4 8.9MUNICIPALITY OF SAKARYA GREATER CITY 9.9 16.4 18.4 17.3 0.0 16.2 21.0 17.1 27.4 7.6MUNICIPALITY OF SAMSUN GREATER CITY 0.6 1.0 1.8 1.4 1.9 2.1 2.6 3.4 7.2 2.1SAMSUN WATER AND SEWERAGE ADMINISTRATION 0.1 0.3 0.3 25.1 1.7 44.6 37.9 4.6 5.2 0.0MUNICIPALITY OF SIIRT 2.1 1.5 1.4 2.1 1.9 2.1 2.5 3.5 3.7 0.0MUNICIPALITY OF SIVAS 2.5 2.5 4.4 4.8 5.0 5.4 6.6 9.0 10.0 0.0MUNICIPALITY OF SANLIURFA 6.3 7.9 34.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0MUNICIPALITY OF TARSUS 10.2 10.0 10.7 4.7 0.0 0.0 0.0 0.0 0.0 0.0MUNICIPALITY OF YOZGAT 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0MUNICIPALITY OF ZONGULDAK 0.0 0.0 0.1 0.8 2.1 2.7 3.5 4.8 5.7 0.5


COLLECTIONS FROM RECEIVABLES (1)

(1) Provisional (Collections from Treasury Receivables under the Law No.4749).(2) Transaction Due to the Provisional Article 16 of Law No. 4749


FUNDS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0SDIF-SAVING DEPOSIT INSURANCE FUND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

NON-FINANCIAL INSTITUTIONS 2,910.3 1,562.9 655.2 1,288.7 676.8 586.0 401.1 221.3 233.4 0.0ORGANIZATIONS 9.9 6.8 6.7 4.9 0.6 0.0 0.0 0.0 0.0 0.0

ISTANBUL OLYMPIC GAMES PREPARATION AND ORGANIZING BOARD 9.7 6.5 6.5 4.8 0.6 0.0 0.0 0.0 0.0 0.0THE UNION OF CHAMBERS AND COMMODITY EXCHANGES OF TURKEY 0.2 0.2 0.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0

SOEs 2,636.3 1,296.6 421.9 1,049.9 457.4 322.3 161.2 207.3 221.3 0.0PETROLEUM PIPELINE CORP. 10.8 10.5 11.0 12.6 0.3 0.4 0.4 0.6 0.7 0.0SAE-STATE AIRPORT ENTERPRISE 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0EBK - MEAT AND FISH PRODUCTS CORP. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0ELECTRICITY GENERATION CO. INC. 279.8 326.5 206.7 208.9 213.4 231.0 60.8 66.2 70.2 0.0SUMER HOLDING INC. 1.9 1.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0TURKISH STATE RAILWAYS 0.0 0.0 132.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0TURKISH IRON AND STEEL WORKS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TURKISH MARITIME ORGANIZATION INC. 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TURKISH ELECTRICITY DISTRIBUTION INC. 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TURKISH ELECTRICITY TRANSMISSION INC. 25.5 25.8 28.2 31.1 59.8 90.6 100.0 140.5 150.4 0.0TURKISH ELECTRICITY TRADE AND COMMITMENT INC. 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0GENERAL DIRECTORATE OF AGRICULTURAL ENTERPRISE 0.2 0.2 0.3 0.3 0.3 0.3 0.0 0.0 0.0 0.0GENERAL DIRECTORATE OF TURKISH COAL 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TURKISH GRAIN BOARD 2,317.2 932.2 43.0 797.0 183.5 0.0 0.0 0.0 0.0 0.0TURKISH HARD COAL CORP. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TUGSAS - T. FERTILIZER IND. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0T. SUGAR PRODUCTION INC 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

PUBLIC CORPORATIONS 264.1 259.5 226.6 233.9 218.9 263.8 239.9 14.0 12.1 0.0EMLAK REAL ESTATE INVESTMENT TRUST 257.4 253.2 219.2 226.3 210.9 254.9 229.1 0.0 0.0 0.0ISTANBUL GAS DISTRIBUTION COMPANY 6.7 6.4 7.4 7.6 8.0 8.8 10.8 14.0 12.1 0.0IZMIT GAS DISTRIBUTION COMPANY 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

FINANCIAL INSTITUTIONS 161.5 129.4 199.0 177.1 143.0 102.1 122.7 178.6 167.9 42.0INSURANCE CORPORATIONS 21.3 14.0 12.9 14.1 0.0 0.0 0.0 0.0 0.0 0.0

TURKISH CATASTROPHIC INSURANCE POOL 21.3 14.0 12.9 14.1 0.0 0.0 0.0 0.0 0.0 0.0PUBLIC BANKS 140.2 115.4 186.0 163.0 143.0 102.1 122.7 178.6 167.9 42.0

GENERAL DIRECTORATE OF İLLER BANK 3.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0T. HALK BANK 31.8 31.3 67.5 31.5 23.7 21.9 26.9 39.2 22.1 0.0T.EXIMBANK 29.4 31.8 32.7 37.6 47.7 50.8 62.3 34.8 0.0 0.0DEVOLOPMENT BANK OF TURKEY 22.2 25.3 30.5 41.4 32.7 23.2 26.9 95.2 144.0 42.0T. VAKIFLAR BANK T.A.O. 53.7 27.1 55.4 52.5 38.8 6.2 6.6 9.4 1.8 0.0T.C. ZIRAAT BANK 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

PRIVATE SECTOR 107.8 59.0 164.0 118.3 128.6 90.0 102.6 130.4 87.1 0.0NON-FINANCIAL INSTITUTIONS 5.0 5.0 5.2 5.9 6.6 7.8 1.3 0.0 0.0 0.0

FOUNDATIONS 3.6 4.1 0.1 4.9 5.6 6.7 0.0 0.0 0.0 0.0BASKENT UNIVERSITY 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TURKISH TECHNOLOGY DEVELOPMENT FOUNDATION 3.6 4.1 0.1 4.9 5.6 6.7 0.0 0.0 0.0 0.0

COMPANIES 0.8 0.8 0.9 0.9 1.0 1.1 1.3 0.0 0.0 0.0EREGLI IRON AND STEEL WORKS CO. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0CARDIOLOGY FOUNDATION FLORENCE NIGHTINGALE HOSPITAL 0.8 0.8 0.9 0.9 1.0 1.1 1.3 0.0 0.0 0.0

ORGANIZATIONS 0.5 0.1 4.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0BALIKESIR INDUSTRIAL ZONE 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0KUTAHYA INDUSTRIAL ZONE 0.1 0.1 4.2 0.1 0.0 0.0 0.0 0.0 0.0 0.0

FINANCIAL INSTITUTIONS 102.9 54.0 158.8 112.4 122.0 82.2 101.2 130.4 87.1 0.0BANKS 102.9 54.0 158.8 112.4 122.0 82.2 101.2 130.4 87.1 0.0

T. GARANTI BANK 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TOPRAKBANK A.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TURKISH INDUSTRIAL DEVELOPMENT BANK 102.9 54.0 158.8 112.4 122.0 82.2 101.2 130.4 87.1 0.0YAPI VE KREDI BANK CORP. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Grand Total / GDP (%) 0.3 0.2 0.1 0.1 0.1 0.1 0.1 0.0


Thousand ¨

2018 2019 Q4

OutstandingOverdue Claims

Projected Claims Stock Total

OutstandingOverdue Claims

Projected Claims Stock Total

Credits from the Decree of the Council of Ministers (No.2001/2312) 0 9,424 9,424 0 8,596 8,596

Loans disbursed by Eximbank 500,474 94,727 595,200 549,550 176,126 725,675

Onlending Agreements 67 67 0 51 51

Funds 512,317 524,691 1,037,008 577,961 458,917 1,036,877

Other 304,516 3,454,088 3,758,605 313,781 3,529,353 3,843,133

Total 1,317,307 4,082,997 5,400,304 1,441,291 4,173,041 5,614,332

2018 2019 Q4

Thousand ¨ (%) Thousand ¨ (%)

Credits from the Decree of the Council of Ministers (No.2001/2312) 1,804 4.3 1,278 0.2

Loans disbursed by Eximbank 15,978 12.4 18,819 6.0

Onlending Agreements 9 0.0 8 0.0

Funds 44,282 78.0 25,882 13.6

Other 3,192 5.3 484,109 80.3

Total 65,265 100.0 530,097 100.0

OTHER TREASURY CLAIMS STOCK (1) (2)

COLLECTIONS FROM OTHER TREASURY CLAIMS (1)

(1) Provisional. Including the stock data of overdue and projected claims. (2) Other Treasury claims are those claims which are out of the scope or Article 3 of the Law No. 4749, where the Ministry is a party representing

the legal entity of the State.

(1) Provisional.

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PRINTED ATREPUBLIC of TURKEY MINISTRY of

TREASURY and FINANCE.

This report has been drawn up in accordance with

Article 14 of Law No. 4749 on the Regulation of Public

Financing and Debt Management. This issue of the

Report contains the data and information regarding the

period of January 2020. Information contained in this

report can be used provied that the source is cited.

176th issue of Public Debt Management Report will be published on 31st March, 2020 at 17:30.

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