Turkey reports rising government debt and firm FX deficits

central government debt foreign exchange deficit Turkish Lira TCMB debt stock

Turkey's central government debt stock reached 15.89 trillion TL as of August 31, 2026, according to Ministry of Treasury and Finance data. This represents an increase of 422.5 billion TL from the previous month. The debt is composed of 7.748 trillion TL in Turkish Lira and 8.1458 trillion TL in foreign currency, meaning foreign currency debt accounts for 51% of the total.

Internal debt stands at 9.5454 trillion TL, while external debt is 6.3485 trillion TL. Regarding interest structures, 10.144 trillion TL is fixed-rate debt, while 5.0105 trillion TL is variable-rate. Additionally, debt indexed to the Consumer Price Index (CPI) totals 739.3 billion TL.

Separately, data from the Central Bank of the Republic of Türkiye (TCMB) shows that the net foreign exchange position deficit for non-financial firms reached 210.802 billion USD in July 2026. This is a 5.027 billion USD increase compared to June 2026. While assets increased by 2.279 billion USD, liabilities rose by 7.306 billion USD, driven by increases in derivative liabilities, domestic cash loans, and import debts.