Public debt management report of turkey feb2016 by Business Turkey

2016 Financing Program...................................... 1 Budget Realizations............................................. 2 Treasury Cash Balance......................................... 4 Domestic Debt.................................................... 5 External Debt...................................................... 9 Debt Stock........................................................ 13 Treasury Guaranteed External Debt.................... 18 Treasury Non-Guaranteed External Debt............. 22 Treasury Receivables......................................... 22 Developments in the Credit Rating of Turkey...... 25 Domestic Borrowing Calendar............................ 26 Data Dissemination Calendar............................. 27

No: 127 FEBRUARY 2016

ANNEX............................................................. 28

REPUBLIC OF TURKEY PRIME MINISTRY UNDERSECRETARIAT OF TREASURY

PUBLIC DEBT MANAGEMENT REPORT

FEBRUARY 2016

2016 FINANCING PROGRAM PROGRAM AND REALIZATIONS

(1)

Program

Realization

January-December

January

Billion ¨

I-TOTAL DEBT SERVICE

120.4

17.7

Domestic Debt Service

94.0

16.4

Principal

56.3

12.1

Interest

37.6

4.4

26.5

1.3

Principal

14.6

0.4

Interest

11.9

0.9

120.4

17.7

24.3

3.3

96.1

14.4

External Borrowing

16.3

0.0

Domestic Borrowing

79.9

14.4

85.0

87.5

25.2

1.9

Net Domestic Borrowing

23.5

2.3

Net External Borrowing

1.7

-0.4

External Debt Service

II-FINANCING Other Financing

(2)

Total Borrowing

Total Domestic Roll-Over Ratio (%) Memo (Billion ¨) Net Borrowing

(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 3 To make borrowing mainly in TL 3 To use fixed rate TL instruments as the major source of domestic cash borrowing and decrease the share of debt which has interest rate refixing period less than 12 months 3 To increase the average maturity of domestic cash borrowing taking market conditions into consideration and decrease the share of debt maturing within 12 months 3 To keep a certain level of cash reserve in order to reduce the liquidity risk associated with cash and debt management

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

BUDGET REALIZATION CENTRAL GOVERNMENT BUDGET REALIZATION AND FINANCING 2015

Million Â¨

Jan

Total

40,109 46,720

46,720

34,877 39,685

39,685

-Direct Taxes

11,148 12,468

12,468

-Indirect Taxes

23,729 27,217

27,217

Central Government Revenues Tax Revenues

5,232

Nontax Revenues Central Government Expenditures Personnel Expenditure

7,035

36,342 42,521

42,521

12,679 14,886

14,886

Social Security Contributions

2,168

2,598

Purchase of Goods and Services

1,450

1,855

Interest Payments

5,015

5,612

12,718 15,987

15,987

Current Transfers

1,784

235

Capital Transfers

182

220

Lending

345

1,127

Capital Expenditure

Central Government Primary Balance

8,782

9,811

Central Government Balance

3,767

4,199

Deferred Payments

17,772

-2,598

Other Deferred Payments

-1,647

1,326

3,986

6,455

23,879

9,382

-23,879

-9,382

4,795

2,578

2,510

-375

-Receipts

3,453

-Payments

-943

-399

Contingencies

Advances Central Government Cash Balance Central Government Budget Financing Borrowing (Net) Foreign Borrowing (Net)

Domestic Borrowing (Net) -TL Denominated T-Bills Receipts Payments -TL Denominated G-Bonds Receipts

2,285

2,954

976

1,598

976

1,598

1,309

1,355

9,800 13,407

13,407

-8,490 -12,052 -12,052

Payments

Receipts

Payments

-FX Denominated G-Bonds

Net Lending (-) Lending

Privatization Revenue

SDIF Revenue Surplus

Repayment (-)

Currency/Deposit And Other Transactions

FEBRUARY 2016

2016

-28,661 -11,960 -11,960

UNDERSECRETARIAT OF TREASURY

GENERAL BUDGET FINANCING 2015

Million ¨

2016

Jan

General Budget Balance Deferred Payments Other Deferred Payments Advances General Budget Cash Balance General Budget Financing Borrowing (Net) Foreign Borrowing (Net) -Receipts -Payments Domestic Borrowing (Net) -TL Denominated T-Bills Receipts Payments -TL Denominated G-Bonds Receipts Payments -FX Denominated G-Bonds Receipts Payments Net Lending (-) Lending Repayment (-) SDIF Revenue Surplus Privatization Revenue Currency/Deposit And Other Transactions

Jan

Total

4,726 -3,289

-3,289

19,421

466

-1,366

1,905

3,591

5,879

26,372

4,960

-26,372 -4,960

-4,960

4,795

2,578

2,510

-375

3,453

-943

-399

2,285

2,954

976

1,598

976

1,598

1,309

1,355

9,800 13,407

13,407

-8,490 -12,052

-12,052

-31,154 -7,539

-7,539

PROGRAM DEFINED CENTRAL GOVERNMENT BUDGET PRIMARY BALANCE(1) 2015

Million ¨

Jan

1. Central Government Budget Revenues (Public Accounts Bulletin) a. Privatization Proceeds (-) b. Interest Receipts (-) c. CBT Profit & Revaluation (-) d. Dividend Payments of State Banks (-) e. Special Revenues of the Turkish Mint (-) f. Net Lending to CGS (-) g. Sales of Immovables and Other One Time Revenues (-) h. Unemployment Insurance Fund Transfer (GAP) (-) i.Transferres from SDIF (-) 2. Central Government Budget Revenues (Program Definition) (1-a-b-c-d-e-f-g-h-i) 3. Central Government Primary Expenditures (Public Accounts Bulletin) j. Risk Account (-) k. Social Security Transfers (Cash - Accrual Difference) (+) l. Net Lending to CGS (+) 4. Central Government Primary Expenditure (Program Definition) (3-j+k+l) Primary Balance (Public Accounts Bulletin) (1-3) Primary Balance (Program Definition) (2-4)

2016 Jan

Total

40,109 46,720

46,720

2,057

694

353

39,310 44,120

44,120

31,327 36,909

36,909

-1,302

1,374

30,025 38,282

38,282

8,782

9,811

9,285

5,838

(1) Provisional

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

TREASURY CASH BALANCE (1)

CASH BALANCE REALIZATIONS 2015 Million Â¨

Jan

2016 Jan

Total

1. REVENUES

38,166 43,606

43,606

2. EXPENDITURES

34,921 44,360

44,360

30,274 39,127

39,127

Non-Interest Expenditures Interest Payments 3. PRIMARY BALANCE 4. PRIVATIZATION AND FUNDS INCOME

(2)

5. CASH BALANCE (1+4-2) 6. FINANCING

(7+8+9+10+11)

7. BORROWING (NET) FOREIGN BORROWING (NET) Borrowing Payment DOMESTIC BORROWING (NET) Borrowing Payment 8. PRIVATIZATION

(3)

9. TRANSFERS FROM SDIF 10. RECEIPTS FROM ONLENDING 11. CHANGE IN BANK ACCOUNTS (4) (5+7+8+9+10) 12. EFFECT OF CHANGE IN EXCHANGE RATE (5) 13. NET CHANGE IN BANK ACCOUNTS (4) (11-12)

4,647

5,233

7,892

4,479

4,054

3,309

3,300

-3,309

-3,300

4,787

1,925

2,502

-388

3,432

931

388

2,285

2,313

10,775 14,365

14,365

8,490 12,052

12,052

242

220

-8,405

-5,536

287

-8,692

-5,623

(1) Provisional (2) This row indicates the Privatization Funds' cash surplus which tranferred to Treasury Domestic Payments Accounting Units' accounts by Privatization Fund and counted as budget revenue in Pubic Accounts Bulletin within the scope of 10th paragraph of code no:4046 (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.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

DOMESTIC DEBT

SECURITIES ISSUED ( January 2016 ) Zero Coupon TL Denominated Securities (Million ¨) Auction Date 01.20.2016

Amount Issued

Annual Yield (Compound) ( % )

Maturity Date 12.14.2016

Nominal

Net

11.19

1,759

1,598

T O TA L

1,759

1,598

Fixed Couponed TL Denominated Securities (Million ¨) Auction Date 01.27.2016 01.27.2016 01.27.2016

Maturity Date

Coupon Rate (%)

07.08.2020 (1) 06.14.2017 (1) 03.12.2025 (1)

4.70 4.80 4.00

Yield Semi-Annual

Amount Issued

Annual Compound (%)

5.36 5.49 5.43

Nominal

11.00 11.28 11.15 T O TA L

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

Net

3,110 2,421 3,327

2,978 2,405 2,875

8,858

8,259

TL Denominated Floating Rate Notes (Million ¨) Auction Date 01.27.2016

Maturity Date

Term Interest Term Interest Determined By Treasury (%) Accepted In Auction (%)

04.20.2022 (1)

4.99

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

Amount Issued Nominal

Net

5.45

1,650

1,624

T O TA L

1,650

1,624

TL Denominated CPI Indexed Bonds (Million ¨) Auction Date 01.27.2016

Coupon Rate (%)

Yield (%)

01.14.2026 (1)

1.35

1.38

2,899

2,883

T O TA L

2,899

2,883

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

FEBRUARY 2016

Amount Issued

Maturity Date

Nominal

Net

UNDERSECRETARIAT OF TREASURY

CURRENCY AND INTEREST COMPOSITION OF DOMESTIC BORROWING

BREAKDOWN OF DOMESTIC BORROWING BY INSTRUMENTS (1) (January 2016) Zero-coupon TL Auctions 11.1 %

TL-Denominated CPI Indexed Auctions 20.1 %

Floating Rate Note Auctions 11.3 %

2015 Jan

100.0 69.0 31.0 100.0 100.0 69.0 31.0 0.0 0.0 0

Total Borrowing Fixed Rate Floating Rate Total Borrowing TL Denominated Fixed Rate Floating Rate FX Denominated Fixed Rate Floating Rate

Fixed-Coupon TL Auctions 57.5 %

2016 Jan

100.0 68.6 31.4 100.0 100.0 68.6 31.4 0.0 0.0 0.0

(1) Excluding switching auctions.

WEIGHTED AVERAGE MATURITY OF DOMESTIC BORROWING 90

Month

75 60 45 30 15 0 Jan

2016

70.4

2015

74.4

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

71.9

87.7

80.1

72.2

76.7

73.3

41.6

64.9

73.2

36.6

80.8

Avg,

70.4 71.8

WEIGHTED AVERAGE COST OF TL DENOMINATED FIXED INTEREST DOMESTIC BORROWING 12 Compound Yield %

11 10 9 8 7 6 5 Jan 2016

11.1

2015

7.8

FEBRUARY 2016

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Avg. 11.1

8.1

8.2

9.7

9.6

9.9

9.6

10.5

11.3

10.8

10.3

10.9

9.5

UNDERSECRETARIAT OF TREASURY

TL YIELD CURVE

11.50

Yield (%)

10.50

9.50

8.50

7.50

250

500

750

1,000 1,250 1,500 1,750 2,000 2,250 2,500 2,750 3,000 3,250 3,500 3,750 Day to Maturity

06.30.2015

09.30.2015

01.29.2016

12.31.2015

YIELDS AND TRADING VOLUMES OF GOVERNMENT SECURITIES

3,500 3,000

2,500 2,000

1,500

Million Â¨

Annual Compounded Rate (%)

(1)

1,000

500 0

1 J 14

F 14

M 14

A 14

M 14

BIST Net Trade Volume

J 14

A 14

S 14

O 14

N 14

D 14

J 15

F 15

Interest Rates in Secondary Markets

M 15

A 15

M 15

J 15

CBT O/N Rate

A 15

S 15

O 15

N 15

D 15

J 16

Treasury Benchmark Auction Rates

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

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

CENTRAL GOVERNMENT DOMESTIC DEBT SERVICE

(1)

Billion ¨

Feb 15

Mar 15

Apr 15

May 15

Jun 15

Jul 15

Aug 15

Sep 15

Oct 15

Nov 15

Dec 15

Jan 16

Principal

10.0

2.6

7.2

9.3

8.5

2.8

4.6

0.0

7.8

2.5

3.7

12.1

Interest

6.1

2.8

6.1

2.8

1.0

4.1

2.8

4.1

2.0

2.8

1.3

4.4

16.1

5.4

13.3

12.0

9.5

6.9

7.5

4.1

9.8

5.3

4.9

16.4

Total

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

CENTRAL GOVERNMENT DOMESTIC DEBT PAYMENT PROJECTIONS

(1)

18 15

Billion ¨

12 9 6 3 0 Feb 16

Mar 16

Apr 16

May 16

Jun 16

Jul 16

Aug 16

Sep 16

Oct 16

Nov 16

Dec 16

Jan 17

Principal

11.6

0.0

0.9

2.5

0.8

7.4

0.8

8.8

0.0

7.9

2.9

7.4

Interest

2.6

4.5

2.0

4.0

1.2

4.1

2.2

4.5

2.1

2.9

1.3

3.9

14.2

4.5

2.9

6.5

2.0

11.5

3.0

13.2

2.1

10.8

4.1

11.3

Total

(1) Payment projections on outstanding domestic debt stock as of February 26, 2016.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

EXTERNAL DEBT EUROBOND ISSUANCE IN 2016 Issue Type

Issue Date

Maturity

Currency

Amount (million)

Amount (million USD)

Coupon (%)

Total (Million US Dollar)

Issue Price Rate of (%) Return (%)

Rate of Return (Spread) Bp

UST : United States Treasury Bond Yield bp : Basis point (100 bp = %1.00)

YIELD CURVE OF USD DENOMINATED EUROBONDS (%) 7.5 6.5 5.5 4.5 3.5 2.5 1.5 Maturity

12.31.2011

12.31.2012

12.31.2013

12.31.2014

12.31.2015

2045

2044

2043

2042

2041

2040

2039

2038

2037

2036

2035

2034

2033

2032

2031

2030

2029

2028

2027

2026

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

0.5

01.31.2016

PERFORMANCE OF TURKEY'S BONDS IN EMERGING MARKET BOND INDEX (EMBI+)(1) (bp) 1,000

(EMBI+ Turkey)-(EMBI+) EMBI+ EMBI+ Turkey

850 700 550 400 250 100 -50 -200

Jan 10

Apr 10

Jul 10

Oct 10

Jan 11

Apr 11

Jul 11

Oct 11

Jan 12

Apr 12

Jul 12

Oct 12

Jan 13

Apr 13

Jul 13

Oct 13

Jan 14

Apr 14

Jul 14

Oct 14

Jan 15

Apr 15

Jul 15

Oct 15

Jan 16

(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.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

LOAN AGREEMENTS OF CENTRAL GOVERNMENT BUDGET Credit name -

Program Credit / Project Credit Distinction

Lender

Borrower

Implementing Agency

Agreement Agreement Currency Date

USD Denominated Amount

Agreement Amount

Total

EXTERNAL CREDIT DISBURSEMENTS OF CENTRAL GOVERNMENT (1) (2)

PROJECT CREDIT DISBURSEMENTS OF CENTRAL GOVERNMENT (1)

2015 January

Project

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

FEBRUARY 2016

2016 (Jan)

Other

Program

Education

Program 0%

Agricul-ture

Project 100 %

Energy

2016 January

Health

Project

Public Administration

Program

Millon US Dollar

Program 95.9 %

Transportation

Project 4.1 %

9.0

0.0

8.2

0.0

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

UNDERSECRETARIAT OF TREASURY

CENTRAL GOVERNMENT EXTERNAL DEBT SERVICE

(1) (2)

3,000

Million US Dollar

2,500 2,000 1,500 1,000 500 0 Feb 15

Mar 15

Apr 15

May 15

Jun 15

Jul 15

Aug 15

Sep 15

Oct 15

Nov 15

Dec 15

Jan 16

Principal

2875

314

125

132

163

110

216

467

128

Interest

405

805

248

285

113

296

263

625

236

228

136

288

Total

478

3,680

561

409

246

459

360

736

452

326

604

416

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

CURRENCY COMPOSITION OF EXTERNAL DEBT SERVICE (1) ( January 2016 )

JPY 0.66 % Euro 16.17 %

US Dollar 81.83 % Other 1.34 %

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

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

CENTRAL GOVERNMENT EXTERNAL DEBT PAYMENT PROJECTIONS (1) (2) (3) (4) 2,500

Million US Dollar

2,000 1,500 1,000 500 0 Feb 2016

Mar 2016

Apr 2016

May 2016

Jun 2016

Jul 2016

Aug 2016

Sep 2016

Oct 2016

Nov 2016

Dec 2016

Jan 2016

Principal

1,391

195

139

140

139

2,109

182

147

194

174

Interest

353

666

360

286

110

289

268

614

233

231

131

289

Total

432

2,057

555

426

250

428

360

2,723

415

378

324

463

(1) Projections as of February 22, 2016. (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.

CENTRAL GOVERNMENT EXTERNAL DEBT PAYMENT PROJECTIONS

(1) (2) (3) (4)

8 7

Billion US Dollar

6 5 4 3 2 1 0

2016

2017

2018

2019

Principal

4.8

7.3

6.8

6.0

Interest

3.5

3.6

3.2

2.9

Total

8.3

10.9

9.9

8.9

(1) Projections as of February 01, 2016. (2) Projections are based on the USD parities dated January 31, 2016 (3) Projection figures are based on total debt stock amount and do not include possible realizations. (4) Disbursement expenditures are not included.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

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

Million ¨

Million US Dollar

2013

2014

2015

2016 Jan

2013

2014

2015

2016 Jan

585,839

612,132

677,632

685,848

274,488

263,975

233,055

230,243

100.0

Fixed

360,190

399,267

458,078

461,219

168,763

172,180

157,545

154,834

61.5

65.2

67.6

67.2

Floating

129,409

111,985

120,104

122,280

60,633

48,292

41,307

41,050

22.1

18.3

17.7

17.8

96,239

100,880

99,450

102,349

45,092

43,503

34,203

34,359

16.4

16.5

14.7

14.9

403,007

414,649

440,124

443,078

188,824

178,813

151,370

148,744

68.8

67.7

65.0

64.6

212,007

234,889

256,394

254,798

99,333

101,293

88,181

85,537

36.2

38.4

37.8

37.2

TOTAL DEBT STOCK

CPI Indexed TL Fixed

2013

2014

2016 Jan

2015

Floating

94,760

78,880

84,281

85,931

44,399

34,016

28,986

28,848

16.2

12.9

12.4

12.5

CPI Indexed

96,239

100,880

99,450

102,349

45,092

43,503

34,203

34,359

16.4

16.5

14.7

14.9

182,832

197,483

237,508

242,770

85,664

85,162

81,685

81,499

31.2

32.3

35.0

35.4

148,183

164,378

201,684

206,421

69,429

70,886

69,365

69,297

25.3

26.9

29.8

30.1

Floating

Fixed

34,649

33,105

35,823

36,349

16,234

14,276

12,321

12,203

5.9

5.4

5.3

Domestic Debt Stock

403,007

414,649

440,124

443,078

188,824

178,813

151,370

148,744

100.0

212,007

234,889

256,394

254,798

99,333

101,293

88,181

85,537

52.6

56.6

58.3

57.5

Floating

Fixed

94,760

78,880

84,281

85,931

44,399

34,016

28,986

28,848

23.5

19.0

19.1

19.4

CPI Indexed

96,239

100,880

99,450

102,349

45,092

43,503

34,203

34,359

23.9

24.3

22.6

23.1

182,832

197,483

237,508

242,770

85,664

85,162

81,685

81,499

100.0

148,183

164,378

201,684

206,421

69,429

70,886

69,365

69,297

81.0

83.2

84.9

85.0

34,649

33,105

35,823

36,349

16,234

14,276

12,321

12,203

19.0

16.8

15.1

15.0

585,839

612,132

677,632

685,848

274,488

263,975

233,055

230,243

100.0

403,007 105,574 60,449 3,207 12,234 1,367

414,649 119,244 60,105 3,281 13,493 1,362

440,124 148,110 66,878 3,947 16,319 2,253

443,078 151,563 68,221 4,024 16,685 2,278

188,824 49,466 28,323 1,503 5,732 640

178,813 51,422 25,919 1,415 5,819 587

151,370 50,939 23,001 1,358 5,613 775

148,744 50,880 22,902 1,351 5,601 765

68.8 18.0 10.3 0.5 2.1 0.2

67.7 19.5 9.8 0.5 2.2 0.2

65.0 21.9 9.9 0.6 2.4 0.3

64.6 22.1 9.9 0.6 2.4 0.3

403,007

414,649

440,124

443,078

188,824

178,813

151,370

148,744

68.8

67.7

65.0

64.6

403,007

414,649

440,124

443,078

188,824

178,813

151,370

148,744

68.8

67.7

65.0

64.6

Foreign Debt Stock Fixed Floating TOTAL DEBT STOCK TL USD EUR SDR JPY Other Domestic Debt Stock TL USD

0.0

EUR

0.0

182,832

197,483

237,508

242,770

85,664

85,162

81,685

81,499

31.2

32.3

35.0

35.4

Foreign Debt Stock USD

105,574

119,244

148,110

151,563

49,466

51,422

50,939

50,880

18.0

19.5

21.9

22.1

JPY

12,234

13,493

16,319

16,685

5,732

5,819

5,613

5,601

2.1

2.2

2.4

EUR

60,449

60,105

66,878

68,221

28,323

25,919

23,001

22,902

10.3

9.8

9.9

SDR

3,207

3,281

3,947

4,024

1,503

1,415

1,358

1,351

0.5

0.6

Other

1,367

1,362

2,253

2,278

640

587

775

765

0.2

0.3

Total Debt Stock / GDP (%)

37.38

34.98

USD end period buying rate

2.1343

2.3189

2.9076

2.9788

USD/EUR

1.3759

1.2164

1.0929

1.0903

USD/SDR

1.5399

1.4482

1.3872

1.3817

(1) Provisional. (2) Domestic and Foreign Debt Stock consist of principal liabilities.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

COMPOSITION OF DOMESTIC DEBT BY HOLDERS %

2005

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016 Jan

89.7

86.4

86.6

89.7

91.4

87.5

82.7

76.8

78.5

78.2

82.6

82.7

Banking Sector

47.0

49.1

51.7

54.9

63.4

62.9

56.7

50.5

50.1

47.3

48.9

49.3

Public Banks

23.7

24.2

23.4

26.0

26.9

25.7

24.0

20.3

20.9

19.0

18.7

18.9

Private Banks

21.2

21.5

23.4

23.3

30.8

30.7

25.9

23.9

22.7

22.0

23.8

23.7

Foreign Banks

1.5

2.9

4.1

4.9

5.5

5.7

5.1

5.6

5.3

5.6

5.8

Development and Investment Banks

0.7

0.6

0.8

0.7

0.8

1.0

1.1

1.2

0.9

35.8

30.4

28.9

30.3

25.7

22.6

24.1

24.4

26.2

28.9

31.8

31.7

Residents

Non Banking Sector Retail Investors

10.5

8.8

5.9

5.5

2.9

1.5

1.6

0.7

0.9

0.4

0.3

Corporate Investors

17.3

18.1

18.5

19.8

18.5

17.0

18.7

19.8

20.6

23.4

25.3

25.4

8.0

3.5

4.5

5.0

4.2

4.1

3.8

3.9

4.7

5.1

6.1

6.0

6.8

6.9

6.0

4.5

2.3

2.0

1.9

2.1

2.0

1.9

1.7

10.3

13.6

13.4

10.3

8.6

12.5

17.3

23.2

21.5

21.8

17.4

17.3

100.0

Securities Mutual Funds CBRT (2) Non Residents Total (1) (2)

2006

(1)

Source: CBRT

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. 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.

COMPOSITION OF DOMESTIC DEBT BY HOLDERS (1)

DURATION OF EXTERNAL BOND STOCK Year

(%)

(%) 51

(1)

7.0

6.5

48 15

6.0

46 45

2011

2012

2013

2014

Jan 2016

2015

Banking Sector (Left Axis)

Retail Investors (Right Axis)

Corporate Investors (Right Axis)

Securities Mutual Funds (Right Axis)

4.5

Jan 16

2015

2014

2013

2005

2012

4.0

Non Residents (Right Axis)

(1)

5.0

2011

2010

2009

2008

2007

2006

2005

5.5

Calculated acccording to the values of Official Gazette.

(1) Provisional.

Month

TIME TO MATURITY OF DOMESTIC DEBT STOCK (1)

DURATION OF TL-DENOMINATED DOMESTIC DEBT STOCK (1) (2)

30 27

24 Month

30 20 10 0

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 23.5

24.0

25.7

23.9

24.4

31.0

31.1

33.6

46.9

55.0

55.1

56.1

Cash

19.6

22.3

25.7

24.4

25.0

30.9

31.1

33.7

47.0

55.0

55.1

56.1

Non-cash 38.7

32.0

25.7

19.8

14.4

40.4

29.2

22.5

16.4

10.6

27.7

26.6

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

FEBRUARY 2016

18 15 12

2016 Jan

Total

9 6 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Duration 8.0

8.2

10.2

8.1

7.5

2016 Jan

10.6 12.5 15.0 23.1 28.9 30.3 31.3

(1) Provisional. (2) Excluding non-cash securities and CPI indexed government bonds.

UNDERSECRETARIAT OF TREASURY

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 (1)

10.2

9.5

11.1

2016 (1)

10.1

9.4

11.1

(1) As of January 31, 2016. Provisional.

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 (1)

4.7

9.4

6.3

(1) As of January 31, 2016. Provisional.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

PERCENTAGE OF DOMESTIC DEBT MATURING WITHIN 12 MONTHS (1) 50

(%)

40 30 20 10 0 D 04

D 05

D 06

D 07

D 08

D 09

D 10

D 11

D 12

D 13

D 14

D 15

J 16

45.7

42.5

35.4

31.8

29.2

38.7

27.2

22.2

33.1

29.2

15.6

12.2

11.5

(1) Provisional.

INTEREST RATE RE-FIXING WITHIN 12 MONTHS (PERCENTAGE OF TL DEBT) (1) (2) 100 90 80

(%)

70 60 50 40 D 04

D 05

D 06

D 07

D 08

D 09

D 10

D 11

D 12

D 13

D 14

D 15

J 16

86.3

80.0

80.2

72.7

75.6

78.3

71.6

67.0

70.3

64.0

55.1

51.9

50.2

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

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

PUBLIC NET DEBT STOCK Million ¨

Total Public Sector Net Debt (I-II-III-IV) l- Total Public Sector Debt Stock (Gross) A-Domestic Debt Central Government Rest of the Public Sector B- External Debt Central Government Rest of the Public Sector II- Central Bank Net Assets Net Foreign Assets Other Asset and Obligations (Net) III- Public Sector Deposits Central Government Rest of the Public Sector IV-Unemployment Insurance Fund Net Assets Net External Debt Stock Net Domestic Debt Stock Public Net Debt Stock/GDP (%) GDP (1) Provisional.

2010

2011

(1)

2008

2009

268,035 408,275 295,787 274,827 20,960 112,488 105,494 6,994 60,371 92,835 -32,464 41,516 19,621 21,895 38,352 19,653 248,382 28.2 950,534

309,933 317,828 290,076 240,637 197,726 187,083 164,436 155,266 143,402 465,737 497,148 546,521 562,911 623,370 650,208 672,965 690,718 734,044 347,378 368,934 387,566 408,367 430,251 443,357 452,884 459,343 470,793 330,005 352,841 368,778 386,542 403,007 414,649 423,184 430,236 438,175 17,374 16,093 18,788 21,826 27,244 28,709 29,699 29,107 32,618 118,359 128,215 158,955 154,543 193,119 206,850 220,082 231,375 263,251 111,504 120,720 149,572 145,657 182,832 197,483 210,406 221,591 252,050 6,855 7,495 9,383 8,886 10,287 9,367 9,675 9,783 11,201 65,995 86,216 143,162 189,502 271,110 304,360 343,955 352,510 406,126 92,497 114,572 150,634 198,965 267,400 288,642 309,164 315,875 359,517 -26,502 -28,356 -7,471 -9,464 3,710 15,719 34,790 36,635 46,609 47,713 47,166 59,762 71,610 84,182 77,372 80,203 95,765 94,522 27,974 25,537 31,096 33,535 45,691 50,592 44,097 58,445 55,162 19,739 21,629 28,666 38,075 38,491 26,779 36,106 37,319 39,360 42,095 45,939 53,521 61,162 70,352 81,393 84,371 87,177 89,993 25,862 13,642 8,321 -44,422 -74,281 -81,791 -89,083 -84,500 -96,267 284,072 304,186 281,755 285,059 272,007 268,874 253,519 239,766 239,669 32.5 28.9 22.4 17.0 12.6 10.7 9.2 8.5 7.6 952,559 1,098,799 1,297,713 1,416,798 1,567,289 1,747,362 1,780,871 1,835,474 1,891,602

2012

2013

2014

2015 Q1

2015 Q2

2015 Q3

GENERAL GOVERNMENT DEBT STOCK (2) DEFINED BY EUROPEAN UNION STANDARDS (1) Million ¨ I- GENERAL GOVERNMENT DEBT STOCK (3) Central Government Other Public Institutions A- DOMESTIC DEBT STOCK Central Government Other Public Institutions B- EXTERNAL DEBT STOCK Central Government Other Public Institutions II- ADJUSTMENT ITEMS(4) Central Government Other Public Institutions GENERAL GOVERNMENT DEBT STOCK (I+II) GDP GENERAL GOVERNMENT DEBT STOCK / GDP (%)

2008

2009

391,778 380,321 11,456 282,302 274,827 7,475 109,475 105,494 3,981 -11,676 26,409 -38,085 380,101 950,534 40.0

454,885 487,606 534,630 549,221 607,046 633,895 655,930 674,577 714,818 441,508 473,561 518,350 532,199 585,839 612,132 633,591 651,827 690,225 13,376 14,045 16,280 17,022 21,208 21,763 22,339 22,749 24,592 338,690 361,220 377,870 396,841 416,399 429,339 438,257 445,583 454,270 330,005 352,841 368,778 386,542 403,007 414,649 423,184 430,236 438,175 8,685 8,379 9,091 10,299 13,392 14,690 15,072 15,347 16,095 116,195 126,386 156,761 152,380 190,647 204,556 217,673 228,994 260,547 111,504 120,720 149,572 145,657 182,832 197,483 210,406 221,591 252,050 4,691 5,666 7,189 6,723 7,815 7,073 7,267 7,403 8,497 -16,414 -22,957 -26,665 -36,959 -40,658 -47,909 -54,147 -56,614 -59,994 23,674 20,696 24,361 21,312 22,398 26,951 24,122 25,478 25,284 -40,088 -43,653 -51,025 -58,271 -63,056 -74,860 -78,269 -82,092 -85,278 438,471 464,649 507,966 512,261 566,388 585,986 601,783 617,963 654,823 952,559 1,098,799 1,297,713 1,416,798 1,567,289 1,747,362 1,780,871 1,835,474 1,891,602 46.0 42.3 39.1 36.2 36.1 33.5 33.8 33.7 34.6

2010

2011

2012

2013

2014

2015 Q1

2015 Q2

2015 Q3

(1) Provisional. (2) Consolidated debt stock defined in European System of Accounts 95 (ESA 95) deficit and debt manual. (3) Unconsolidated gross debt of General Government. (4) Adjustment Items: For Central Government: - adjustment of zero coupon securities and valuation of inflation indexed bonds - the stock of circulating coins issued by Treasury - securities held by central government institutions For Other Public Institutions: - securities held by other public institutions.

TURKEY'S NET EXTERNAL DEBT STOCK Million US Dollar

2008

2009

2010

2011

2012

2013

2014

280,958

268,940

292,025

303,909

339,022

389,054

402,482

CBRT (-)

14,066

13,162

11,565

9,334

7,088

5,234

2,484

2,110

1,978

1,552

Banks (-)

57,716

54,494

81,358

90,202

116,382

154,985

172,473

174,934

179,616

178,359

209,176

201,284

199,102

204,373

215,552

228,835

227,525

215,753

223,285

226,073

60,933

57,609

31,630

30,834

38,541

15,232

-1,828

-5,036

2,484

Gross External Debt Stock

Gross External Debt Stock, Excluding Banking Sector (I) Monetary Authorities and Deposit Money Banks (1)

2015 Q1 2015 Q2 2015 Q3 392,798

404,880

405,985

Investment and Development Banks & Participation Banks

-3,692

-2,887

-5,589

-9,158

-12,240

-15,554

-16,529

-16,433

-16,319

-16,754

Banking Sector / Monetary Sector Net Foreign Assets (II) (2)

57,241

54,723

26,041

21,676

26,301

-323

-16,529

-18,261

-21,355

-14,270

151,935

146,561

173,062

182,697

189,251

229,157

244,054

234,015

244,641

240,343

20.5

23.8

23.7

23.6

24.1

27.8

30.5

29.5

31.7

32.4

Net External Debt Stock (I-II) Net External Debt Stok/GDP (%) (1) (2) (3)

(3)

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. 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. For quarterly terms, ratios are calculated using GDP in USD amounts on a four quarter moving basis.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

TREASURY GUARANTEES TREASURY GUARANTEED EXTERNAL DEBT STOCK(1) Million US Dollar

GRAND TOTAL Central Administrations

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015 Q1 2015 Q2 2015 Q3

4,302

4,871

5,712

6,618

7,506

8,365

9,751 10,807 11,187 10,414 11,005 11,052

300

Local Administrations

774

818

1,079

1,189

1,280

1,206

1,161

1,114

939

848

839

838

Funds

248

187

138

(2)

138

254

786

1,479

2,100

3,167

3,681

4,394

4,104

4,352

4,503

1,180

1,242

1,280

1,187

1,162

1,214

1,158

989

923

887

888

1,489

2,077

2,702

3,086

3,417

3,842

4,194

4,854

4,865

4,539

4,627

4,523

532

409

296

187

4,302

4,871

5,712

6,618

7,506

8,365

9,751 10,807 11,187 10,414 11,005 11,052

Fixed

1,196

1,186

1,396

1,503

1,600

1,621

2,005

2,436

3,004

2,789

2,931

2,959

Floating

3,014

3,498

4,045

4,851

5,678

6,537

7,565

8,215

8,067

7,530

7,977

8,009

187

271

264

228

207

181

156

116

4,302

4,871

5,712

6,618

7,506

8,365

9,751 10,807 11,187 10,414 11,005 11,052

2,248

2,167

2,237

2,520

2,956

3,423

4,111

Financial Institutions

Non-Financial Institutions (3) Private Sector Financial Institutions

(4)

Private Sector Non-Financial Institutions INTEREST RATE COMPOSITION

Combined CURRENCY COMPOSITION USD

4,610

5,051

5,045

5,320

5,312

JPY

121

EUR

1,845

2,565

3,358

4,011

4,498

4,897

5,566

6,125

6,056

5,288

5,602

5,656

OTHERS

(1) Provisional. (2) Represents Public Banks. (3) Represents SOEs, Istanbul Gas Distribution Company (IGDAS), Izmit Gas Distribution Company (IZGAZ) and Istanbul Olimpic Games Preperation & Organizing Board. The stocks of the privatised institutions take place in here until the privatisation date. (4) Represents Turkey Industrial Development Bank (TSKB) and T. Vakflar Bankas覺 T.A.O.

TIME TO MATURITY OF TREASURY GUARANTEED DEBT STOCK 2015 Q2 Year

Time to Maturity

2015 Q3

Avg. Time to Maturity

Time to Maturity

Avg. Time to Maturity

11.0

6.4

11.0

6.4

11.4

6.8

11.3

6.8

Central Government

14.8

9.6

14.6

9.3

Local Administrations

10.1

5.8

10.1

5.8

1.4

1.1

11.4

6.6

11.4

6.5

11.4

6.6

11.4

6.5

8.6

5.2

8.8

5.4

SOEs

8.6

5.2

8.8

5.4

Other

11.7

6.3

11.6

6.3

11.7

6.3

11.6

6.3

11.7

6.3

11.6

6.3

11.3

6.4

11.2

6.3

Public General Government

Funds Financial Institutions Public Banks Non Financial Institutions

Private Financial Institutions Banks Non-Financial Institutions Companies Total

(1)

(1) Provisional.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

TREASURY GUARANTEED DEBT AGREEMENTS (2016 January) Borrower

Credit Name

Lender

Agreement Date

TSKB

TSKB Loan III for SMEs and Midcaps and Innovation

EIB

04.Feb.16

Agreement Amount

Guarantee Currency Ratio (%)

100,000,000

100%

Maturity (Year)

Grace Period (Year)

3.5

Euro Total

TREASURY GUARANTEED DEBT AGREEMENTS

(1)

Amount in Terms of USD 109,200,000 109,200,000

(2003-2016)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Jan

Million US Dollar

209

2,044

637

1,393

2,178

1,101

790

1,341

2,550

2,456

2,723

109.2

Financial Institutions

255

410

731

1,652

754

790

1,341

2,550

1,709

2,064

109.2

SOEs

961

444

184

746

Local Administrations

148

827

227

217

341

347

659

Private

218

806

590

255

266

607

582

100

607

Total

218

808

799

2,299

903

1,999

2,759

1,201

1,397

1,341

2,550

2,456

2,723

109.2

Public

(1) Contract based

LOANS SUBJECT TO DEBT ASSUMPTION AGREEMENTS Project Name

PPP Model

Debt Assumption Agreement Date

Total Project Cost (USD)

Loan Amount (USD)

Eurasia Tunnel Project

Build-Operate-Transfer

12.11.2012

1,239,863,000

960,000,000

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

Build-Operate-Transfer

05.13.2014

2,927,413,140

2,318,000,000

Gebze-Orhangazi-İzmir Motorway (including the Izmit Gulf Crossing and access roads)

Build-Operate-Transfer

06.05.2015

6,312,392,047

4,956,312,328

10,479,668,187

8,234,312,328

Total

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

REPAYMENTS OF TREASURY GUARANTEED DEBT (January 2016)

Million US Dollar

50 40 30 20 10 0 Local Administrations

Funds

Financial Institutions

Non-Financial Institutions (1)

Private Sector Financial Institutions

Private Sector Non-Financial Institutions

Paid By Treasury

Paid By Institution

Total

(1) Includes SOEs, IGDAS - Istanbul Gas Distributions Company, IZGAZ - Izmit Distribution Company, Istanbul Olimpic Games Preparation & Organizing Board.

REPAYMENTS OF TREASURY GUARANTEED DEBT (2005 - 2016) BY BUDGET TYPE (Million US Dollar)

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015 2016(1) Total

Central Government

Paid by Treasury

Local Administrations

Paid by Institution

275

237

187

145

159

173

152

136

132

139

114

1,856

Paid by Treasury

194

138

766

Paid by Institution

101

109

116

105

100

107

1,090

125

492

125

492

119

114

148

198

922

119

114

148

198

922 2,981

Funds Paid by Treasury Paid by Institution Financial Institutions Paid by Treasury Paid by Institution Non Financial Institutions (2)

725

333

251

250

214

185

176

171

226

237

202

Paid by Treasury

116

121

419

Paid by Institution

707

260

136

167

180

176

171

226

237

202

2,562 2,737

Private Sector Financial Institutions

116

227

205

209

271

360

365

419

432

Paid by Treasury

Paid by Institution

116

227

205

209

271

360

365

419

432

2,737 831

Private Sector Non Financial Institutions

247

150

129

113

Paid by Treasury

Paid by Institution

247

150

129

113

831

1,275

1,076

814

834

774

760

739

774

820

943

945

9,818

213

211

201

137

171

1,185

1,063

865

613

697

603

698

692

734

788

911

917

8,633

Total Paid by Treasury Paid by Institution

(1) As of January 31, 2016. (2) Includes SOEs, IGDAS - Istanbul Gas Distributions Company, IZGAZ - Izmit Distribution Company, Istanbul Olimpic Games Preparation & Organizing Board.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

RISK ACCOUNT (1) Thousand Â¨

2015 January

Total Payments

2016 January

24,953

31,859

Non-Financial Institutions Financial Institutions

Private Sector Financial Institutions

BOT Local Administrations

24,953

31,859

Central Government

FX Differences

Total Income(2)

7,290

7,103

Non-Financial Institutions

190

Financial Institutions

272

1,743

Private Sector Financial Institutions

BOT

1,565

413

5,263

4,947

Local Administrations Central Government CBRT Interest Revenue

(1) Risk Account which belongs to the Treasury has been established at the Central Bank of Turkey for the undertaking of the repayments by the Treasury for Treasury guarantees. (2) Provisional.

TREASURY GUARANTEED DEBT PAYMENT PROJECTIONS (1) 600

Million US Dollar

500 400 300 200 100 0

2015

2016

2017

2018

Local Administrations

138

108

115

Funds

Financial Ins.

325

438

538

Non-Financial Ins.

152

119

109

Private Sector Financial Ins.

466

552

579

Private Sector Non-Financial Ins.

268

1,080

1,217

1,341

Total (1) Provisional as of September 30, 2015

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

TREASURY NON-GUARANTEED LOAN AGREEMENTS OF PUBLIC SECTOR TREASURY NON-GUARANTEED EXTERNAL DEBT AGREEMENTS ( January 2016 ) Borrower Halk Bank

Project Name

Lender Bank of America London Branch

Repurchase

Agreement Date

Agreement Amount

Currency

24.12.2015

100,000,000.00

USD

Maturity Grace Period (Year) (Year) 2.0

Total

Amount In Terms Of USD 100,000,000.00

100,000,000.00

TREASURY RECEIVABLES TREASURY RECEIVABLES STOCK 2015 Million ¨

Local Administrations

(1)

January 2016 Million ¨

12,163

68.6

12,233

68.7

SOE's

2,375

13.4

2,408

13.5

Banks

392

2.2

399

2.2

0.1

Social Security Institution Public Banks

622

3.5

633

3.6

Public Enterprises

476

2.7

422

2.4

1,690

9.5

1,697

9.5

Organizations (2)

Central Administrations

0.0

Insurance Institutions

0.0

Private Institutions (3)

0.0

17,734

100

17,806

100

Foundations Total

(4)

(1) Provisional. Indicates the total amount of outstanding overdue and projected receivables. (2) Represents Industrial Zones, Trade Unions and Istanbul Olimpic Games Preparation & Organizing Board. (3) Represents privatized SOE's and corporations governed by foundations. (4) Represents universities subordinated by foundations and Foundation of Technological Improvements in Turkey.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

OUTSTANDING OVERDUE RECEIVABLES (January 2016)

OUTSTANDING OVERDUE RECEIVABLES (1) 2015 Million ¨

SOE's 10.8 %

January 2016 Million ¨

3,411

86.7

3,440

86.7

SOE's

425

10.8

430

10.8

Central Administrations

100

2.5

100

2.5

3,935

100

3,970

100.0

Local Administrations

Total

Other 2.5 % Local Admin 86.7 %

(1) Provisional

OUTSTANDING RECEIVABLES EXCLUDING OVERDUES (1) 2015 Million ¨

OUTSTANDING RECEIVABLES EXCLUDING OVERDUES (January 2016)

January 2016 %

Million ¨

Foundations

63.4 14.1 2.8 0.1 4.5 3.4 11.5 0.0 0.0 0.0 0.0

8,793 1,979 399 9 633 422 1,597 0 0 2 3

63.5 14.3 2.9 0.1 4.6 3.0 11.5 0.0 0.0 0.0 0.0

Total

13,799

100

13,836

100

SOE's Banks Social Security Institutions Public Banks Public Enterprises Central Administrations Organizations Insurance Institutions Private Institutions

Local Admin 63.5 %

8,752 1,950 392.0 8.9 621.7 475.8 1,590.2 0.0 0.0 1.9 6.6

Local Administrations

SOE's 14.3 %

Other 22.2 %

(1) Provisional

TIME TO MATURITY OF PROJECTED RECEIVABLES STOCK December 2015 Year

Local Administrations SOEs Banks Public Banks Central Government Public Enterprises Other Administrations (3) Insurance Institutions Foundations (4) Private Institutions (5) Social Security Institutions Total

Time to Maturity

January 2016

Avg. Time to Maturity Time to Maturity

12.7 11.4 5.4 9.0 4.9 2.4 0.5 4.0 9.1 9.2

(1) (2)

6.5 6.0 2.8 5.1 3.8 1.1 0.3 1.4 4.8 5.0

12.8 11.3 5.3 9.0 4.8 2.3 0.5 3.9 9.0 9.1

Avg. Time to Maturity

6.6 5.9 2.7 5.0 3.7 1.2 0.5 1.3 4.7 5.0

(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 Industrial Zones, Trade Unions and Istanbul Olimpic Games Preperation & Organizing Board. (4) Represents universities subordinated by foundations and the Foundation of Technological Improvements in Turkey. (5) Represents privatized SOE's and corporations governed by foundations.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

COLLECTIONS FROM TREASURY RECEIVABLES (1) 2012 Million ¨

2013 %

Million ¨

2014 Million ¨

2015 %

January 2015

Million ¨

779

29.9

1,356

55.4

827

33.2

184

15.1

16.5

SOE's

1,297

49.7

422

17.2

1,050

42.1

457

37.4

3.1

Banks

3.1

214

8.8

165

6.6

161

13.2

0.0

Public Banks

3.4

131

5.3

110

4.4

104

8.5

0.0

260

10.0

227

9.3

234

9.4

219

17.9

73.5

2.9

3.2

7.2

3.2

0.3

0.4

0.2

0.0

0.5

0.6

0.0

Private Institutions

0.0

0.1

0.0

Foundations

0.2

0.0

0.2

0.5

3.8

Social Security Institution

0.1

0.0

0.1

0.0

2,606

100

2,446

100

2,493

100

1,222

100

Local Administrations

Public Enterprises Central Administrations Organizations Insurance Institutions

Total

(1) Provisional

COLLECTIONS FROM TREASURY RECEIVABLES ( January 2016 ) Central Administrations 3.2 %

Public Enterprises 73.5 %

Local Administrations 16.5 %

SOE's 3.1 %

Foundations(2) 3.8 %

(1) Represents Industrial Zones, Trade Unions and Istanbul Olimpic Games Preperation & Organizing Board. (2) Represents universities subordinated by foundations and Foundation of Techonolgical Improvemets in Turkey.

SEPTEMBER2016 FEBRUARY 2009

UNDERSECRETARIAT OF TREASURY

DEVELOPMENTS IN THE CREDIT RATING OF TURKEY LONG TERM FOREIGN CURRENCY 2007 04.03.2008 07.31.2008 105.2008 11.13.2008 2008 09.17.2009 09.18.2009 12.03.2009 2009 01.08.2010 02.01.2010 02.19.2010 105.2010 11.24.2010 2010 11.23.2011 2011 01.05.2012 05.01.2012 06.20.2012 09.20.2012 11.05.2012 2012 03.27.2013 05.16.2013 05.23.2013 2013 02.07.2014 02.21.2014 04.11.2014 2014 Current

Standard & Poor's BB- (stable) BB- (negative) BB- (stable)

Moody’s Ba3 (stable)

Fitch BB- (stable)

JCR BB- (stable)

IIRA

R&I

DBRS

BB+ (stable) BB- (negative) BB- (negative) BB- (stable)

Ba3 (stable)

BB- (stable)

BB+ (stable)

BB+ (stable) BB+ (stable)

BB- (stable)

BB+ (stable)

Ba3 (positive) BB- (stable)

Ba3 (positive) Ba2 (stable)

BB (stable) BB (positive) Ba2 (positive) BB (positive)

Ba2 (positive)

BB (positive)

Ba2 (positive)

BB+ (positive) BB+ (positive) BB+ (stable) BB+ (stable)

BB (stable)

BB+ (stable)

BB (stable)

BB+ (stable) BBB- (stable)

BB (stable) Ba1 (positive) BB+ (positive) BB (stable) BB+ (stable)

Ba1 (positive)

BBB- (stable) BBB- (stable)

BB (stable)

BBB- (stable)

BB+ (positive)

BBB- (stable)

BBB- (stable) BBB- (stable)

BBB- (stable)

BB+ (positive)

Baa3 (stable) BB+ (stable) BB+ (negative)

Baa3 (stable)

BBB Low (stable) BBB Low (stable)

BB+ (stable) BB+ (negative) BB+ (negative)

Baa3 (negative) Baa3 (negative) Baa3 (negative)

BBB- (stable) BBB- (stable)

BB+ (stable) BB+ (stable)

BBB Low (stable) BBB Low (stable)

IIRA

R&I

DBRS

LONG TERM TL 2007 04.03.2008 07.31.2008 10.05.2008 11.13.2008 2008 09.17.2009 09.18.2009 12.03.2009 2009 01.08.2010 02.01.2010 02.19.2010 105.2010 11.24.2010 2010 09.20.2011 11.23.2011 2011 01.05.2012 05.01.2012 06.20.2012 06.28.2012 11.05.2012 2012 03.27.2013 05.16.2013 05.23.2013 2013 02.07.2014 04.11.2014 2014 05.08.2014 Current

Standard & Poor's BB (stable) BB (negative) BB (stable)

Moody’s Ba3 (stable)

Fitch BB (stable)

JCR BB- (stable)

BBB- (stable) BB (negative) BB (negative) BB (stable)

Ba3 (stable)

BB (stable)

BB- (stable)

BBB- (stable)

BB+ (stable) BB+ (stable)

BB- (stable)

BBB- (stable)

Ba3 (positive) BB (stable)

Ba3 (positive) Ba2 (stable)

BB+ (positive) Ba2 (positive) BB+ (positive) BBB- (positive)

Ba2 (positive)

BB+ (positive) BB+ (positive)

BB- (stable)

BBB- (stable)

BBB- (positive)

Ba2 (positive)

BB+ (stable) BB+ (stable)

BB- (stable)

BBB- (stable) BBB (stable)

BBB- (stable) Ba1 (positive) BB (positive) BBB- (stable) BBB (stable)

BBB (stable) BBB (stable)

BB (positive)

BBB (stable)

Baa3 (stable)

BBB (stable)

BBB- (stable) BBB- (stable)

BBB (stable)

BBB (stable) BBB (stable)

Baa3 (negative) Baa3 (negative)

BBB (stable)

BBB- (stable)

BBB (stable)

Baa3 (negative)

BBB (stable)

BBB- (stable)

BBB (stable)

Ba1 (positive) Baa3 (stable)

BBB (stable) BBB (negative) BBB (negative) BBB- (negative) BBB- (negative)

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.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

CALENDAR Domestic Borrowing Calendar March 2016 I. Week

II. Week

III. Week

IV. Week

V. Week

Auction Announcement

03/11

03/17

Zero-coupon TL Auction

Fixed-Coupon TL Auction

03/15

03/22

Floating Rate Note Auction

CPI Indexed Auction

Announcement of Monthly Auction Calendar

03/31

Domestic Borrowing Calendar April 2016 Auction Announcement

I. Week

II. Week

III. Week

IV. Week

V. Week

04/08

Zero-coupon TL Auction

Fixed-Coupon TL Auction

04/12

Floating Rate Note Auction

CPI Indexed Auction

Announcement of Monthly Auction Calendar

04/29

Domestic Borrowing Calendar May 2016 I. Week

II. Week

III. Week

IV. Week

V. Week

Auction Announcement

05/13

Zero-coupon TL Auction

05/03

Fixed-Coupon TL Auction

05/02-03

05/17

Floating Rate Note Auction

CPI Indexed Auction

Announcement of Monthly Auction Calendar

05/27

PRIMARY DEALER BANKS Bank Name

FEBRUARY 2016

Web-Address

Phone

Akbank

www.akbank.com.tr

0-212-270 00 44

DenizBank A.Ş.

www.denizbank.com

0-212-336 40 00

Deutsche Bank A.Ş.

www.deutschebank.com.tr

0-212-317 01 00

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

ING Bank A.Ş.

www.ingbank.com.tr

0-212-335 10 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

UNDERSECRETARIAT OF TREASURY

DATA DISSEMINATION CALENDAR Data

Central Government Debt Statistics Central Government Domestic Debt Statistics Borrowing Statistics Average Cost of Domestic Borrowing Average Maturity of Domestic Borrowing TRY Denominated Zero Coupon Bonds TRY Denominated Fixed Couponed Bonds TRY Denominated CPI Indexed Bonds TRY Denominated Floating Rate Notes Revenue Indexed Bonds Archive 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 Statistics Central Government Domestic Debt Payments Central Government Domestic Debt Payment Projections (Monthly) Central Government Domestic Debt Payment Projections (Yearly) Central Government Domestic Debt Stock - List of Securities Information on Securities Issued During 2000-2001 Crisis Non-Cash Domestic Debt Stock Composition of Domestic Debt Stock by Holders Composition of Domestic Debt Stock by Holders (2006 - 2010) Archive Composition of Domestic Debt Stock by Holders (2006 - 2010) Central Government External Debt Statistics Borrowing Statistics Program and Project Loans of the Central Government Central Government International Bond Issues Payment Statistics Central Government External Debt Payments Central Government External Debt Payment Projections (Monthly) Central Government External Debt Payment Projections (Annual) Central Government External Debt Stock - by Lender Archive Central Government External Debt Stock - by Lender (1986-...) Central Government Debt Stock Statistics Central Government Debt Stock by Instrument Type Central Government Debt Stock - by Interest Type Average Time to Maturity of Central Government Debt Stock Archive Central Government Debt Stock by Instrument Type (2002 - 2010) Central Government Debt Stock - by Interest Type (2003 - 2010) EU-Defined General Government Debt Stock Statistics EU-Defined General Government Debt Stock Public Net Debt Stock Statistics Public Net Debt Stock External Debt Statistics of Turkey Gross External Debt Stock Statistics of Turkey Gross External Debt Stock of Turkey Gross External Debt Stock of Turkey - by Lender Gross External Debt Stock of Public Sector - by Lender Gross External Debt Stock of CBRT - by Lender Gross External Debt Stock of Private Sector - by Lender Gross External Debt Stock of Turkey - by Borrower Gross External Debt Stock of Turkey - Currency Composition Debt Stock of Bonds Issued in International Markets Archive Gross External Debt Stock of Turkey (Archive) External Debt Payment Projections of Turkey External Debt Payment Projections of Turkey Net External Debt Stock Statistics of Turkey Net External Debt Stock of Turkey Treasury Cash Balance Realizations Treasury Cash Balance Realizations Archive Treasury Cash Balance Realizations (2005-2011) Data on Treasury Receivables Treasury Receivables by Sources Receivables Arising From Undertaken Payments Due To Treasury Guarantees Receivables Arising from Onlendings Archive Receivables Arising From Undertaken Payments Due To Treasury Guarantees (1992-2005) Collections from Treasury Receivables Collections From Â Treasury Receivables Treasury Receivables Stock Stock of Treasury Receivables Stock of Overdue Receivables Stock of Projected Receivables Data on Treasury Guarantees Treasury Repayment Guarantees Loans Provided Under Treasury Guarantees Loans Provided Under Treasury Guarantees Loans Provided Under Treasury Guarantees - Lender Distribution Repayments of Treasury Guaranteed Loans Repayments of Treasury Guaranteed Loans Repayment Projections of Loans Provided Under Treasury Guarantees Treasury Guaranteed Debt Stock Treasury Guaranteed External Debt Stock Treasury Guaranteed External Debt Stock- Lender Distribution Treasury Investment Guarantees PPP Projects With Treasury Investment Guarantees Non-Guaranteed External Debt of Public Institutions Loans Provided By Public Institutions Without Treasury Guarantees External Debt Stock of Loans Provided by Public Institutions without Treasury Guarantee Budget Financing Statistics General Budget Balance and Financing Central Government Budget Balance and Financing Archive General Budget Balance and Financing (2006-2010) Central Government Budget Balance and Financing (2006-2010) Consolidated Government Sector (CGS) Realizations Central Governmet Budget Primary Balance -Program Definition Archive Consolidated Government Sector (2004-2010) Central Governmet Budget Primary Balance -Program Definition (2004-2010) Special Data Dissemination Standards (SDDS) Economic and Financial Data for Turkey Economic and Financial Data For Turkey

FEBRUARY 2016

Date of Dissemination

8th of each month / following business day 8th of each month / following business day After the auctions After the auctions After the auctions After the auctions After the auctions

20th of each month / following business day 20th of each month / following business day 20th of each month / following business day Every Monday 20th of each month / following business day 20th of each month / following business day

Last business day of each month After Issue Date 20th of each month / following business day 20th of each month / following business day 20th of each month / following business day 20th of each month / following business day

20th of each month / following business day 20th of each month / following business day 20th of each month / following business day

Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months

Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months 6 th working day of each month

20th of each month / following business day 20th of each month / following business day

20th of each month / following business day 20th of each month / following business day 20th of each month / following business day 20th of each month / following business day

Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months 20th of each month / following business day Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months Last business day of 3rd, 6th, 9th and 12th months 20th of 6th and 12th months / following business day 20th day of each month / following business day Last business day of 3rd, 6th, 9th and 12th months 20th of each month / following business day 20th of each month / following business day

20th of each month / following business day

UNDERSECRETARIAT OF TREASURY

ANNEX CENTRAL GOVERNMENT EXTERNAL DEBT STOCK Million USD CENTRAL GOVERNMENT EXTERNAL DEBT STOCK Loan Multilateral Agencies (IMF) (SDR Allocation)

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016 Jan

66,577

67,121

69,757

74,054

78,085

79,185

81,710

85,664

85,162

81,685

81,499

30,230

28,377

30,851

33,155

33,901

32,657

30,501

30,010

26,987

24,241

24,084

19,424

17,280

18,912

21,385

20,869

18,808

17,723

18,412

17,205

16,018

15,976

10,759

7,144

8,563

7,935

5,629

2,885

864

1,499

1,478

1,476

1,474

1,477

1,389

1,330

1,324

5,077

4,932

5,538

5,657

6,307

6,510

5,940

5,175

4,755

4,356

4,334

(2)

Bilateral Lenders Others

(1)

5,729

6,165

6,401

6,113

6,725

7,339

6,838

6,423

5,028

3,867

3,773

36,347

38,744

38,907

40,899

44,185

46,527

51,209

55,654

58,175

57,444

57,416

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016 Jan

CENTRAL GOVERNMENT EXTERNAL DEBT STOCK

100.0

45.4

42.3

44.2

44.8

43.4

41.2

37.3

35.0

31.7

29.7

29.6

29.2

25.7

27.1

28.9

26.7

23.8

21.7

21.5

20.2

19.6

16.2

10.6

12.3

10.7

7.2

3.6

1.1

0.0

2.0

1.9

1.8

1.7

1.6

7.6

7.3

7.9

7.6

8.1

8.2

7.3

6.0

5.6

5.3

Bond

Loan Multilateral Agencies (IMF) (SDR Allocation) (2) Bilateral Lenders Others Bond GDP %

8.6

9.2

8.3

8.6

9.3

8.4

7.5

5.9

4.7

4.6

54.6

57.7

55.8

55.2

56.6

58.8

62.7

65.0

68.3

70.3

70.4

2006

CENTRAL GOVERNMENT EXTERNAL DEBT STOCK Loan Multilateral Agencies

2007

2008

2009

2010

2011

2012

2013

2014

2016 Jan

2015

12.6

10.3

9.4

12.0

10.7

10.2

10.4

10.7

5.7

4.4

4.2

5.4

4.6

4.2

3.9

3.6

3.4

3.7

2.7

2.5

3.5

2.9

2.4

2.3

2.2

(IMF)

2.0

1.1

1.2

1.3

0.8

0.4

0.1

0.0

(SDR Allocation) (2)

0.0

0.2

Bilateral Lenders

1.0

0.8

0.7

0.9

0.8

0.6

Others

1.1

1.0

0.9

1.0

0.9

0.8

0.6

6.9

6.0

5.2

6.6

6.0

6.5

6.8

7.3

Bond GDP

526,429 648,754 742,094 616,703 731,608 773,980 786,283 823,044 799,001

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

DOMESTIC DEBT STOCK Million ¨ TOTAL DOMESTIC DEBT CASH BOND BILL NON-CASH BOND

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016 Jan (1)

224,483 244,782 251,470 255,310 274,827 330,005 352,841 368,778 386,542 403,007 414,649 440,124 443,078 165,579 194,153 208,376 220,582 248,691 313,232 350,379 366,355 384,672 401,754 414,000 440,077 443,031 135,307 176,335 198,783 214,448 234,713 299,196 340,854 366,355 380,988 401,754 414,000 440,077 441,432 30,272

17,818

9,594

6,134

13,978

14,036

9,525

3,684

1,598

58,904

50,629

43,094

34,728

26,136

16,772

2,463

2,424

1,870

1,253

648

58,904

50,629

43,094

34,728

26,136

16,772

2,463

2,424

1,870

1,253

648

(1) Provisional.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

FEBRUARY 2016 AĞUSTOS 2009

UNDERSECRETARIAT OF TREASURY HAZİNE MÜSTEŞARLIĞI

209

225

461

233

236

Interest

III. Net Financing (I-II)

IV. Net Financing Excluding Interest

V. IMF Debt Stock (end of period)

311

334

685

340

344

Interest

III, Net Financing (I-II)

IV, Net Financing Excluding Interest

V, IMF Debt Stock (end of period)

662

-29

1996

461

-20

1996 0

594

-27

-56

1997

440

-20

-41

1997 0

388

-232

-258

232

258

1998

276

-165

-183

165

183

1998

891

512

501

288

300

800

1999

649

373

365

210

219

583

1999

4,176

3,331

3,279

137

3,416

2000

3,205

2,556

2,517

105

2,622

2000

14,117

10,088

9,662

426

1,090

1,517

11,179

2001

11,233

8,028

7,688

339

868

1,207

8,895

2001

22,086

6,815

5,962

853

6,684

7,537

13,499

2002

16,246

5,013

4,385

628

4,916

5,544

9,929

2002

24,092

-49

-998

949

1,819

2,768

1,770

2003

16,213

-33

-672

639

1,224

1,863

1,191

2003

21,507

-3,672

-4,677

1,005

4,905

5,909

1,233

2004

13,848

-2,364

-3,011

647

3,158

3,805

794

2004

14,646

-5,147

-6,067

920

7,527

8,447

2,380

2005

10,247

-3,601

-4,245

644

5,267

5,910

1,666

2005

10,762

-4,654

-5,471

817

7,661

8,478

3,007

2006

7,154

-3,094

-3,637

543

5,092

5,635

1,999

2006

7,158

-4,146

-4,727

581

5,331

5,912

1,184

2007

4,530

-2,624

-2,992

368

3,373

3,741

749

2007

8,524

1,547

1,149

398

1,916

2,314

3,463

2008

5,534

1,004

746

258

1,244

1,502

2,248

2008

(1)

7,958

-718

-913

195

718

913

2009

5,076

-458

-582

124

458

582

2009

5,627

-2,191

-2,322

131

2,191

2,322

2010

3,654

-1,423

-1,508

1,423

1,508

2010

2,877

-2,733

-2,804

2,733

2,804

2011

1,874

-1,780

-1,826

1,780

1,826

2011

864

-2,016

-2,039

2,016

2,039

2012

562

-1,312

-1,328

1,312

1,328

2012

-866

-870

866

870

2013

-562

-565

562

565

2013

(2) End-year $/SDR rates are used. All $/SDR rates are taken from the IMF web site (www.imf.org).

(1) The Undersecretariat of Treasury and the Central Bank combined. The Undersecretariat of Treasury made its last disbursement in 2008 and completed its repayment obligations in 2013, while The Central Bank made its last disbursement in 2001 and completed its repayment obligations in 2005.

II, Debt Service

Principal

334

344

I, Disbursement

1995

Principal

1994

II. Debt Service

Million US Dollar (2)

225

1995

236

1994

I. Disbursement

Million SDR

NET FINANCING FROM THE INTERNATIONAL MONETARY FUND

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

24,373

TOTAL (II)

48,945

TOTAL (III)

47.3

41.3

161,139 35.5

170,750

84,914

50,896

34,018

15,425

12,662

2,763

70,411

68,278

2,133

2005

39.5

208,108

120,844

82,304

38,540

15,678

13,115

2,563

71,587

69,837

1,750

2006

38.5

250,012

160,686

121,986

38,700

15,801

13,519

2,282

73,525

71,362

2,163

2007

Source : UT, CBRT, TURKSTAT

(1) Since Oct 01, 2001, CBRT is responsible for monitoring private sector debt. (2) For quarterly terms, ratios are calculated using GDP in USD amounts on a four quarter moving basis.

GROSS EXTERNAL DEBT / GDP (%) (2)

144,161

36,985

30,133

LONG TERM (1) 64,061

27,076

21,410

18,123

3,287

75,668

73,828

1,840

2004

18,812

SHORT TERM

21,513

LONG TERM

2,860

70,844

TOTAL (I)

SHORT TERM

69,503

1,341

2003

LONG TERM

SHORT TERM

GROSS EXTERNAL DEBT (I+II+III)

PRIVATE SECTOR

CBRT

PUBLIC SECTOR

Million USD

37.9

280,958

188,558

141,161

47,397

14,066

12,192

1,874

78,334

75,086

3,248

2008

43.6

268,940

172,265

128,637

43,628

13,162

11,398

1,764

83,513

79,915

3,598

2009

39.9

292,025

191,350

119,946

71,404

11,565

10,012

1,553

89,110

84,820

4,290

2010

GROSS EXTERNAL DEBT of TURKEY

39.3

303,909

200,296

126,968

73,328

9,334

8,095

1,239

94,280

87,267

7,013

2011

43.1

339,022

227,910

139,791

88,119

7,088

6,052

1,036

104,023

92,983

11,040

2012

47.3

389,054

267,875

155,900

111,975

5,234

4,401

833

115,944

98,339

17,605

2013

50.4

402,482

282,288

167,683

114,605

2,484

2,142

342

117,710

99,844

17,866

2014

49.5

392,798

277,300

166,303

110,997

2,110

1,820

290

113,388

95,223

18,165

52.4

404,880

287,181

177,288

109,893

1,978

1,708

270

115,720

98,796

16,924

54.7

405,985

289,630

184,363

105,267

1,552

1,344

208

114,802

99,447

15,355

2015 Q1 2015 Q2 2015 Q3

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

19,921

327,473

57,990

19,277

13,248

1,480

2,781

35,306

6,399

229

2,249

8,877

44,183

19,625

27,192

71,131

9,713

108,039

127,665

229,838

101

36,624

60,897

97,521

97,635

339,022

65,024

20,202

13,387

1,474

2,338

35,927

6,164

214

2,217

8,595

44,522

19,499

27,749

72,209

9,821

109,781

129,281

238,827

36,522

63,587

100,109

100,195

352,094

67,326

20,113

13,127

1,438

1,860

35,100

5,890

195

2,115

8,200

43,300

19,413

26,896

70,986

10,090

107,974

127,387

238,012

276

39,988

73,805

113,793

114,082

367,754

73,149

20,605

13,154

1,442

35,202

5,663

185

2,110

7,958

43,160

19,084

26,640

70,828

10,568

108,037

127,121

243,430

401

270

44,103

79,550

123,653

124,324

2013 Q3

373,443

73,874

21,662

14,318

1,470

37,450

5,749

176

2,157

8,082

45,532

18,681

27,793

72,555

10,500

110,849

129,530

248,936

1,194

42,277

81,024

123,301

124,507

(1) The lender class of all bonds issued in foreign markets is "monetary institutions" according to the primary market issuance.

322,669

55,341

316,725

53,804

GROSS EXTERNAL DEBT of TURKEY

BONDS

17,995

18,732

(1)

OTHER MULTILATERAL INST.

12,901

1,456

3,163

34,058

6,279

239

2,228

8,745

42,803

12,826

1,486

3,809

35,367

6,310

267

2,302

8,880

44,247

27,393

71,938

8,979

108,313

128,234

226,378

203

37,761

58,327

96,088

IBRD

IMF SDR ALLOCATİON

IMF-INTERNATIONAL MONETARY FUND

MULTILATERAL ORGANIZATIONS

OFFICIAL DEVELOPMENT BANKS

CENTRAL GOVERNMENTS

CENTRAL BANKS

PUBLIC FINANCE INSTUTITIONS

GOVERNMENTAL ORGANIZATIONS

OFFICIAL CREDITORS

20,657

28,861

FOREIGN BRANCHES OF DOMESTIC BANKS AND OTHERS

NONMONETARY INSTITUTIONS

72,845

8,358

110,069

FOREIGN COMMERCİAL BANKS

PRIVATE INVETSTMENT & DEV. BANKS

NONBANK FINANCIAL INSTITUTIONS

MONETARY INSTITUTIONS

130,725

228,776

LONG TERM

PRIVATE CREDITORS

BONDS (1)

223

35,282

NONMONETARY INSTITUTIONS

OFFICIAL CREDITORS

52,444

87,726

Q2 96,291

2012

87,949

MONETARY INSTITUTIONS

PRIVATE CREDITORS

SHORT TERM

Million USD

389,054

79,298

22,530

14,227

1,477

38,234

5,586

162

2,152

7,900

46,134

18,598

27,574

76,158

10,879

114,610

133,209

258,641

1,472

44,911

84,024

128,935

130,413

388,140

80,303

22,491

14,173

1,480

38,144

5,632

148

2,136

7,916

46,060

18,786

28,133

78,240

10,928

117,301

136,087

262,450

1,880

42,574

81,230

123,804

125,690

GROSS EXTERNAL DEBT OF TURKEY - BY LENDER

402,229

88,206

22,237

13,827

1,481

37,544

5,600

137

2,214

7,951

45,496

18,228

29,161

78,911

10,673

118,745

136,973

270,674

2,965

44,421

84,163

128,584

131,555

2014 Q3

397,587

89,864

21,673

13,121

1,426

36,221

5,475

125

2,092

7,692

43,913

15,775

27,782

78,530

10,236

116,549

132,324

266,100

3,637

199

44,721

82,930

127,651

131,487

402,482

92,432

22,553

13,112

1,389

37,054

5,220

109

2,115

7,444

44,498

15,444

27,359

79,291

10,645

117,295

132,739

269,669

4,141

242

45,651

82,779

128,430

132,813

392,798

92,260

21,400

12,165

1,328

34,893

5,257

1,956

7,310

42,203

14,572

25,874

77,508

10,928

114,311

128,882

263,346

3,969

319

42,791

82,373

125,164

129,452

404,880

94,293

22,057

12,153

1,345

35,555

5,196

1,931

7,219

42,774

15,854

26,713

87,118

11,040

124,871

140,725

277,793

3,883

552

45,515

77,137

122,652

127,087

2015 Q3

405,985

93,596

22,517

12,199

1,347

36,064

5,414

1,921

7,428

43,492

15,681

27,065

93,567

11,754

132,386

148,067

285,155

2,839

446

47,335

70,210

117,545

120,830

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

Local Administrations

Funds

4,444

35,488

13,942

80,686

Non-Banking Institutions

NON-FINANCIAL INSTITUTIONS

49,429

130,115

Banks

FINANCIAL INSTITUTIONS

PRIVATE SECTOR

8,082

CBRT

1,161

SOE's

78,415

14,661

36,056

50,717

129,133

7,195

1,091

1,142

3,726

1,227

4,444

3,675

80,780

84,464

90,051

3,726

Other

NON-FINANCIAL INSTITUTIONS

Banks

FINANCIAL INSTITUTIONS

3,935

Local Administrations

Funds

81,676

90,579

Central Government

228,776

LONG TERM

PUBLIC SECTOR

85,626

226,378

27,543

NON-FINANCIAL INSTITUTIONS

GENERAL GOVERNMENT

30,151

1,783

2,288

46,697

49,953

52,241

82,392

1,127

12,772

Banks

48,480

76,023

0 0

Non-Banking Institutions

FINANCIAL INSTITUTIONS

PRIVATE SECTOR

1,243

Other

CBRT

10,683

SOE's

NON-FINANCIAL INSTITUTIONS

Banks

10,683

Central Government

FINANCIAL INSTITUTIONS

GENERAL GOVERNMENT

96,291

87,949

10,683

SHORT TERM

PUBLIC SECTOR

12,772

2012

(Million USD)

79,340

15,147

36,838

51,986

131,325

6,375

1,114

1,167

5,582

3,824

81,556

85,388

92,138

229,838

29,742

2,473

54,587

57,060

86,802

1,071

9,762

97,635

82,697

15,342

41,752

57,094

139,791

6,052

1,214

1,257

6,245

3,769

81,710

85,482

92,983

238,827

28,906

1,868

57,345

59,213

88,119

1,036

11,040

100,195

81,770

15,403

43,105

58,508

140,278

5,657

1,180

1,222

6,887

3,665

80,300

83,968

92,078

238,012

31,744

1,997

66,763

68,760

100,504

980

12,598

114,082

80,405

17,272

47,237

64,509

144,914

5,432

1,196

1,229

7,048

3,596

81,210

84,807

93,084

243,430

35,285

1,970

70,724

72,694

107,979

963

15,382

124,324

2013

81,748

17,764

49,483

67,248

148,996

4,744

1,211

1,244

7,429

3,683

82,839

86,523

95,196

248,936

33,241

1,686

72,069

73,755

106,996

905

16,606

124,507

82,806

18,195

54,900

73,095

155,900

4,401

1,158

1,181

7,833

3,661

85,664

89,325

98,339

258,641

34,955

2,373

74,647

77,020

111,975

833

17,605

130,413

83,946

18,872

56,156

75,028

158,974

4,100

1,120

1,143

8,132

3,604

86,496

90,101

99,376

262,450

33,041

1,907

72,137

74,044

107,085

762

17,843

125,690

84,767

20,467

60,408

80,876

165,643

3,628

1,047

1,058

9,553

3,467

87,323

90,791

101,402

270,674

34,165

2,084

76,486

78,570

112,735

661

18,159

131,555

2014

GROSS EXTERNAL DEBT OF TURKEY - BY BORROWER

82,308

19,129

62,006

81,135

163,444

2,527

964

975

10,187

3,253

85,715

88,968

100,130

266,100

34,141

1,899

76,096

77,995

112,136

417

18,934

131,487

82,678

19,026

65,979

85,005

167,683

2,142

989

10,642

3,050

85,162

88,213

99,844

269,669

34,607

2,012

77,986

79,998

114,605

342

17,866

132,813

79,138

18,345

68,819

87,165

166,303

1,820

923

10,907

2,784

80,609

83,393

95,223

263,346

31,908

2,046

77,043

79,089

110,997

290

18,165

129,452

84,326

18,967

81,070

100,037

184,363

1,344

888

12,946

2,792

82,821

85,613

99,447

285,155

33,975

2,303

68,989

71,292

105,267

208

15,355

120,830

CONTINUE

82,506

19,299

75,482

94,782

177,288

1,708

886

12,665

2,756

82,489

85,245

98,796

277,793

33,439

1,909

74,545

76,454

109,893

270

16,924

127,087

2015

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

3,935

Local Administrations

49,801

4,004

PUBLIC SECTOR

PRIVATE SECTOR

53,804

4,004

PRIVATE SECTOR

TOTAL

49,801

PUBLIC SECTOR

53,804

PRIVATE SECTOR

LONG TERM

109,082

17,620

91,425

109,046

218,127

7,446

1,114

1,167

15,344

3,824

81,556

85,388

101,900

327,473

111,603

17,210

99,097

116,307

227,910

7,088

1,214

1,257

17,285

3,769

81,710

85,482

104,023

339,022

113,514

17,400

109,868

127,268

240,782

6,637

1,180

1,222

19,485

3,665

80,300

83,968

104,676

352,094

115,690

19,242

117,961

137,203

252,893

6,395

1,196

1,229

22,430

3,596

81,210

84,807

108,466

367,754

2013

114,989

19,450

121,552

141,003

255,992

5,649

1,211

1,244

24,035

3,683

82,839

86,523

111,802

373,443

117,761

20,568

129,547

150,115

267,875

5,234

1,158

1,181

25,438

3,661

85,664

89,325

115,944

389,054

116,987

20,779

128,293

149,072

266,059

4,862

1,120

1,143

25,975

3,604

86,496

90,101

117,219

388,140

118,932

22,551

136,894

159,446

278,378

4,289

1,047

1,058

27,712

3,467

87,323

90,791

119,561

402,229

2014

116,449

21,028

138,102

159,130

275,580

2,944

4,503

50,838

55,341

4,503

50,838

55,341

2012

5,866

52,137

58,003

5,853

52,137

57,990

11,829

53,209

65,038

11,815

53,209

65,024

13,690

53,649

67,339

13,677

53,649

67,326

18,397

55,153

73,550

17,996

55,153

73,149

401

2013

19,610

55,458

75,068

18,416

55,458

73,874

1,194

22,367

58,404

80,770

20,895

58,404

79,298

1,472

22,845

59,338

82,183

20,965

59,338

80,303

1,880

29,271

61,899

91,171

26,306

61,899

88,206

2,965

2014

964

975

29,121

3,253

85,715

88,968

119,064

397,587

30,924

62,576

93,501

27,456

62,407

89,864

3,468

169

3,637

DEBT STOCK of BONDS ISSUED in INTERNATIONAL MARKETS

PUBLIC SECTOR

SHORT TERM

Million USD

16,949 108,566

15,725

108,229

Non-Banking Institutions

NON-FINANCIAL INSTITUTIONS

102,958

211,525 86,009

97,909

206,138

8,322

1,091

82,185

Banks

FINANCIAL INSTITUTIONS

PRIVATE SECTOR

9,325

Other

CBRT

1,161

1,142

17,216

14,409

1,227

17,216

3,675

80,780

84,464

102,823

322,669

2012

14,409

SOE's

NON-FINANCIAL INSTITUTIONS

Banks

FINANCIAL INSTITUTIONS

81,676

Central Government

Funds

85,626

101,262

PUBLIC SECTOR

GENERAL GOVERNMENT

316,725

GROSS EXTERNAL DEBT of TURKEY

Million USD

GROSS EXTERNAL DEBT OF TURKEY - BY BORROWER

33,494

63,079

96,573

29,691

62,741

92,432

3,803

338

4,141

117,285

21,038

143,965

165,003

282,288

2,484

989

28,508

3,050

85,162

88,213

117,710

402,482

34,865

61,364

96,229

31,294

60,966

92,260

3,571

398

3,969

111,046

20,391

145,862

166,254

277,300

2,110

923

29,072

2,784

80,609

83,393

113,388

392,798

35,247

62,930

98,176

31,714

62,580

94,293

3,533

350

3,883

2015

115,945

21,208

150,027

171,236

287,181

1,978

886

29,589

2,756

82,489

85,245

115,720

404,880

2015

33,421

63,014

96,435

30,826

62,770

93,596

2,595

244

2,839

118,301

21,270

150,059

171,329

289,630

1,552

888

28,301

2,792

82,821

85,613

114,802

405,985

GROSS EXTERNAL DEBT of TURKEY - CURRENCY COMPOSITION SHORT TERM Million US Dollar

2012

2013

TOTAL

87,949

96,291

97,635 100,195 114,082 124,324 124,507 130,413 125,690 131,555 131,487 132,813 129,452 127,087 120,830

USD

43,114

47,060

49,122

49,996

59,497

64,754

63,108

65,540

63,505

65,724

67,741

70,788

71,250

68,606

62,400

EUR

30,998

31,772

31,026

32,370

34,474

39,109

43,360

45,138

44,825

44,883

42,975

40,665

38,606

38,380

36,945

JPY

199

222

258

824

245

252

264

280

241

309

212

200

192

180

218

SDR

12,426

15,871

15,739

15,452

17,967

18,131

15,035

16,496

13,892

17,479

17,266

17,826

16,254

16,749

17,888

1,212

1,366

1,490

1,553

1,899

2,078

2,740

2,959

3,227

3,160

3,293

3,334

3,150

3,172

3,379

OTHER

2015

2014 Q3

LONG TERM Million US Dollar

2012 Q1

2013 Q3

2014 Q3

2015 Q3

TOTAL

228,776 226,378 229,838 238,827 238,012 243,430 248,936 258,641 262,450 270,674 266,100 269,669 263,346 277,793 285,155

USD

124,160 126,221 128,585 135,197 135,129 137,312 139,516 145,464 148,510 154,964 156,083 161,075 163,107 170,176 173,244

EUR

85,093

80,782

81,450

84,712

82,799

85,479

89,052

92,914

92,504

93,654

88,208

87,085

79,854

87,322

92,146

JPY

7,911

8,061

8,291

7,474

7,308

7,156

7,243

6,863

7,389

7,851

8,255

7,582

7,696

7,626

7,727

SDR

3,828

3,182

2,803

2,361

1,882

1,464

1,496

1,503

1,506

1,451

1,415

1,353

1,372

1,374

6,252

6,710

7,253

7,611

9,492

10,412

9,877

10,043

10,561

10,722

10,306

10,668

9,560

9,222

8,608

OTHER

1,531

1,423

1,457

1,472

1,401

1,607

1,752

1,855

1,981

1,977

1,798

1,845

1,777

2,075

2,055

TOTAL Million US Dollar

2012 Q1

2013 Q3

2014 Q3

2015 Q3

TOTAL

316,725 322,669 327,473 339,022 352,094 367,754 373,443 389,054 388,140 402,229 397,587 402,482 392,798 404,880 405,985

USD

167,274 173,281 177,707 185,193 194,626 202,066 202,624 211,004 212,015 220,688 223,824 231,863 234,357 238,782 235,644

EUR

116,091 112,554 112,476 117,082 117,273 124,588 132,412 138,052 137,329 138,537 131,183 127,750 118,460 125,702 129,091

JPY

8,110

8,283

8,549

8,298

7,553

7,408

7,507

7,143

7,630

8,160

8,467

7,782

7,888

7,806

7,945

SDR

3,828

3,182

2,803

2,361

1,882

1,464

1,496

1,503

1,506

1,451

1,415

1,353

1,372

1,374

18,678

22,581

22,992

23,063

27,459

28,543

24,912

26,539

24,453

28,201

27,572

28,494

25,814

25,971

26,496

2,743

2,789

2,947

3,025

3,300

3,685

4,492

4,814

5,208

5,137

5,091

5,179

4,927

5,247

5,434

TL OTHER

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

TREASURY GUARANTEED EXTERNAL DEBT STOCK BORROWER (Million US Dollar) PUBLIC GENERAL GOVERNMENT

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 3,258

2,281

2,385

2,714

3,345

3,993

4,484

5,546

5,953

6,322

5,874

6,378

6,530

1,022

1,004

1,217

1,279

1,327

1,223

1,164

1,114

939

848

1,139

1,139 300

300

830

774

818

1,079

1,189

1,280

1,206

1,161

1,114

939

848

839

838 51

PRIVATIZATION ADMINISTRATION MUNICIPALITY OF ADANA GREATER CITY

2015 2015 2015 Q1 Q2 Q3

1,148

CENTRAL GOVERNMENT LOCAL ADMINISTRATIONS

(1)

108

126

157

210

212

177

151

125

MUNICIPALITY OF ADAPAZARI GREATER CITY

MUNICIPALITY OF ANKARA GREATER CITY

0 63

ASAT - ANTALYA WATER AND SEWERAGE ADMINISTRATION

MUNICIPALITY OF ANTALYA GREATER CITY

ASKI - ADANA WATER AND SEWERAGE ADMINISTRATION

ASKI - ANKARA WATER AND SEWERAGE ADMINISTRATION

MUNICIPALITY OF BAFRA MUNICIPALITY OF BANDIRMA

MUNICIPALITY OF BURSA GREATER CITY

110

105

131

136

118

105

107

108 53

120

131

127

107

CESME AND ALACATI MUNICIPALITES UNION

BUSKI - BURSA WATER AND SEWERAGE ADMINISTRATION

MUNICIPALITY OF DALAMAN

MUNICIPALITY OF DIDIM EGO - ELECTRICITY, GAS AND OMNIBUS AUTH. OF (ANKARA) MUNICIPALITY OF ESKISEHIR GREATER CITY

0 105

125

131

149

170

164

150

147

138

129

113

107

104

MUNICIPALITY OF FOCA

GASKI - GAZIANTEP WATER AND SEWERAGE ADMINISTRATION

MUNICIPALITY OF ISKENDERUN ISKI - ISTANBUL WATER AND SEWERAGE ADMINISTRATION

METROPOLITAN MUNICIPALITY OF ISTANBUL

153

181

167

154

138

117

112

107

102

MUNICIPALITY OF IZMIR GREATER CITY

129

140

142

146

125

109

112

111

IZSU - IZMIR WATER AND SEWERAGE ADMINISTRATION

MUNICIPALITY OF KAYSERI GREATER CITY

119

101

MUNICIPALITY OF KOCAELI GREATER CITY

0 41

MARIC - MARMARIS MUNICPALITIES UNION MERSIN WATER & SEWERAGE ADMINISTRATION

MUNICIPALITY OF MILAS

MUNICIPALITY OF SAMSUN GREATER CITY

128

146

150

154

132

117

120

122 25

SAMSUN WATER & SEWERAGE ADMINISTRATION SASKİ

MUNICIPALITY OF YOZGAT

MUNICIPALITY OF ZONGULDAK

318

248

187

138

318

248

187

138

FUNDS T. DEFENSE INDUSTRY SUPPORT FUND FINANCIAL INSTITUTIONS PUBLIC BANKS

222

138

254

786

1,479

2,100

3,167

3,681

4,394

4,104

4,352

4,503

222

138

254

786

1,479

2,100

3,167

3,681

4,394

4,104

4,352

4,503

143

222

228

230

259

265

255

263

295

T. HALK BANK INC.

GENERAL DIRECTORATE OF ILLER BANK

142

469

834

1,014

1,286

1,438

1,400

1,269

1,366

1,371

T. EXIMBANK INC.

181

124

126

210

494

576

714

664

671

783

257

512

891

1,086

1,186

1,109

1,221

1,213

T. DEVOLOPMENT BANK INC. T.C. ZIRAAT BANK INC. NON FINANCIAL INSTITUTIONS SOEs BOTAS - T. PETROLEUM PIPELINE CORP.

136

267

322

829

806

831

841

1,887

1,180

1,242

1,280

1,187

1,162

1,214

1,158

989

923

887

888

1,837

1,140

1,212

1,222

1,267

1,183

1,162

1,214

1,158

989

923

887

888

116

247

303

352

379

362

390

927

876

812

677

557

435

351

275

203

117

206

325

363

399

436

365

319

323

321

148

177

238

277

328

335

296

255

217

156

131

121

113

572

EREGLI IRON & STEEL WORKS INC. EUAS-ELECTRICITY PRODUCTION INC. TCDD T. STATE RAILWAYS TEDAŞ-T. ELECTRICTY DISTRIBUTION INC. TEIAS - T. ELECTRICTY TRANSMISSION INC. THY - TURKISH AIRLINES TKI - T. COAL CORP. TMO -SOIL PRODUCTS OFFICE TUGSAS - T. FERTILIZER IND. INC.

TURKISH TELECOM INC. TUPRAS - T. PETROLEUM RAFINERIES INC. OTHER

IZGAZ - IZMIT GAS DISTRUBUTION COMPANY

ISTANBUL OLIMPIC GAMES PREPERATION & ORGANIZING BOARD

PRIVATE FINANCIAL INSTITUTIONS BANKS

1,121

2,021

2,486

2,998

3,273

3,513

3,880

4,206

4,855

4,865

4,539

4,627

4,523

959

1,489

2,077

2,702

3,086

3,417

3,842

4,194

4,854

4,865

4,539

4,627

4,523 4,523

959

1,489

2,077

2,702

3,086

3,417

3,842

4,194

4,854

4,865

4,539

4,627

TVB- T. FOUNDATION BANK

288

401

721

827

1,348

1,449

1,383

1,372

TSKB- T. INDUSTRIAL DEVELOPMENT BANK INC.

671

1,489

2,043

2,637

2,996

3,017

3,121

3,367

3,506

3,416

3,156

3,255

3,151

161

532

409

296

187

NON FINANCIAL INSTITUTIONS EREGLI IRON & STEEL WORKS INC. TURKISH TELECOM

443

357

265

163

134

TOTAL

4,378

4,302

4,871

5,712

6,618

7,506

8,365

9,751

10,807

11,187

10,414

11,005

11,052

Total Stock/GDP (%)

0.9

0.8

1.1

1.0

1.1

1.2

1.3

1.4

THY - TURKISH AIRLINES TUPRAS - TURKISH PETROLEUM RAFINERIES

(1) Provisional.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

PAYMENTS UNDERTAKEN DUE TO TREASURY GUARANTEES (1) BORROWER (Million US Dollar)

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016(2)

GRAND TOTAL

341

337

332

276

210

140

124

118

123

GUARANTEED EXTERNAL DEBT

213

211

201

137

171

213

211

201

137

171

194

138

PUBLIC GENERAL GOVERNMENT CENTRAL GOVERNMENT PRIVATIZATION ADMINISTRATION LOCAL ADMINISTRATIONS

194

138

10 10

MUNICIPALITY OF ADANA GREATER CITY

MUNICIPALITY OF ADAPAZARI GREATER CITY

MUNICIPALITY OF ANKARA GREATER CITY

ASAT - ANTALYA WATER AND SEWERAGE ADMINISTRATION

ASKI - ANKARA WATER AND SEWERAGE ADMINISTRATION

MUNICIPALITY OF BAFRA

MUNICIPALITY OF BANDIRMA MUNICIPALITY OF BURSA GREATER CITY

MUNICIPALITY OF DALAMAN

MUNICIPALITY OF DIDIM

EGO ELECTRICITY, GAS & OMNIBUS AUTH. OF ANKARA MUNICIPALITY OF FOÇA

GASKI- GAZIANTEP WATER AND SEWERAGE ADMINISTRATION

MUNICIPALITY OF İSKENDERUN

ISKI - ISTANBUL WATER AND SEWERAGE ADMINISTRATION

MUNICIPALITY OF IZMIR GREATER CITY IZSU - IZMIR WATER AND SEWERAGE AUTHORITY

MUNICIPALITY OF KAYSERİ GREATER CITY

MUNICIPALITY OF KOCAELİ GREATER CITY

MARIC MARMARIS - ICMELER-ARMUTALAN MUNICIPALITIES

MUNICIPALITY OF MENEMEN

0 0

MUNICIPALITY OF MILAS

MUNICIPALITY OF YOZGAT

MUNICIPALITY OF ZONGULDAK

0.9

0.3

NON - FINANCIAL INSTITUTIONS

116

121

111

112

EUAS - ELECTRICITY PRODUCTION INC.

102

TCDD - T. STATE RAILWAYS

SOEs BOTAS - T. PETROLEUM PIPELINE CORP.

TEIAS - T.ELECTRICITY TRANSMISSION INC.

TMO - SOIL PRODUCTS OFFICE

OTHER IGDAS-ISTANBUL GAS DISTRUBUTION COMPANY

IZGAZ - IZMIT GAS DISTRIBUTION COMP.

ISTANBUL OLIMPIC GAMES PREPARATION & ORGANIZING BOARD BOT PRODUCT SALE GUARANTEES PUBLIC GENERAL GOVERNMENT LOCAL ADMINISTRATIONS MUNICIPALITY OF KOCAELI GREATER CITY Payments Undertaken by Treasury /GDP (%)

128

125

131

139

128

125

131

139

128

125

131

139

128

125

131

139

128

125

131

139

0.07

0.06

0.05

0.03

0.02

0.01

0.00

(1) Provisional. (2) As of January 31, 2016.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

OUTSTANDING TREASURY RECEIVABLES BORROWER (Million ¨)

OVERDUE RECEIVABLES

GRAND TOTAL

(1) (2)

OUTSTANDING RECEIVABLES PRINCIPAL

OTHER

TOTAL

3,970

10,442

3,394

13,836

17,806

3,970

10,038

3,394

13,432

17,402

3,540

7,004

3,394

10,399

13,939

SOCIAL SECURITY INSTITUTIONS

SOCIAL SECURITY INSTITUTION

100

1,597

1,697

COMMITTEE OF BANKRUPTCY OF IMAR BANKASI T.A.Ş.

1,001

PRIVATIZATION ADMINISTRATION

577

100

TÜBİTAK - MARMARA RESEARCH CENTER

TÜBİTAK - NATIONAL METROLOGY INSTITUTE

TURKISH PATENT INSTITUTE

TURKISH ATOMIC ENERGY AUTHORITHY

3,440

5,398

3,394

8,793

12,233

362

495

585

947

511

687

1,198

PUBLIC SECTOR GENERAL GOVERNMENT

CENTRAL GOVERNMENT

TURKISH STANDARDS INSTITUTION

LOCAL GOVERNMENTS MUNICIPALITY OF ADANA GREATER CITY MUNICIPALITY OF ANKARA GREATER CITY MUNICIPALITY OF ANTALYA GREATER CITY

134

GENERAL DIRECTORATE OF ANTALYA WATER AND SEWERAGE

ADANA WATER AND SEWEREGE ADMINISTRATION

ANKARA WATER AND SEWEREGE ADMINISTRATION

206

285

AYDIN WATER AND SEWERAGE ADMINISTRATION

143

229

BALIKESİR WATER AND SEWERAGE ADMINISTRATION

MUNICIPALITY OF BATMAN

MUNICIPALITY OF BURSA GREATER CITY

250

BUSKİ - BURSA WATER AND SEWEREGE ADMINISTRATION

MUNICIPALITY OF DENIZLI GREATER CITY

DİYARBAKIR WATER AND SEWEREGE ADMINISTRATION

ELECTRICITY, GAS AND OMNIBUS AUTH. OF ANKARA

182

253

436

450

ERZURUM WATER AND SEWERAGE ADMINISTRATION

ESKİŞEHİR WATER AND SEWERAGE ADMINISTRATION

GAZİANTEP WATER AND SEWEREGE ADMINISTRATION

268

228

496

MUNICIPALITY OF GAZIANTEP GREATER CITY

HATAY WATER AND SEWERAGE ADMINISTRATION

İSTANBUL WATER & SEWEREGE ADMINISTARATION

MUNICIPALITY OF İZMİR GREATER CITY

İZSU - İZMİR WATER AND SEWERAGE ADMINISTRATION

KAYSERİ WATER AND SEWERAGE ADMINISTRATION

2,934

1,693

1,414

3,107

6,041

MUNICIPALITY OF KOCAELI GREATER CITY MUNICIPALITY OF KONYA GREATER CITY

KONYA WATER AND SEWERAGE ADMINISTRATION

MUNICIPALITY OF MALATYA GREATER CITY

MUNICIPALITY OF MERSİN GREATER CITY

MESKİ - MERSİN WATER AND SEWERAGE ADMINISTRATION

MUGLA WATER AND SEWERAGE ADMINISTRATION

411

343

755

MUNICIPALITY OF SAKARYA GREATER CITY

128

158

103

261

389

MUNICIPALITY OF SAMSUN GREATER CITY

SASKİ - SAMSUN WATER AND SEWERAGE ADMINISTRATION

109

MUNICIPALITY OF SİİRT

MUNICIPALITY OF SİVAS

MUNICIPALITY OF YOZGAT

MUNICIPALITY OF ZONGULDAK

(1) Provisional (Includes only Treasury Receivables arised from Law no: 4749). (2) As of January 31, 2016.

FEBRUARY 2016

CONTINUE

UNDERSECRETARIAT OF TREASURY

OUTSTANDING TREASURY RECEIVABLES BORROWER (Million ¨)

OVERDUE RECEIVABLES

NON-FINANCIAL INSTITUTIONS SOEs PETROLEUM PIPELINE CORP. ELECTRICITY GENERATION CO. INC. TURKISH STATE RAILWAYS TURKISH ELECTRICITY TRANSMISSION INC. GENERAL DIRECTORATE OF AGRICULTURAL ENTERPRISE

(1) (2)

OUTSTANDING RECEIVABLES PRINCIPAL

OTHER

TOTAL

430

2,400

2,830

430

1,979

2,408

360

430

969

1,399

646

422

EMLAK REAL ESTATE INVESTMENT TRUST

379

İSTANBUL GAS DISTRUBITION COMPANY

633

PUBLIC BANKS

633

T. HALK BANK

191

T.EXIMBANK

124

DEVOLOPMENT BANK OF TURKEY

319

T. ZIRAAT BANK

404

399

T. VAKIFLAR BANK T.A.O.

TURKISH INDUSTRIAL DEVELOPMENT BANK

361

PUBLIC CORPORATIONS

FINANCIAL INSTITUTIONS

PRIVATE SECTOR NON-FINANCIAL INSTITUTIONS COMPANIES CARDIOLOGY FOUNDATION FLORENCE NIGHTINGALE HOSPITAL FOUNDATIONS TURKISH TECHNOLOGY DEVELOPMENT FOUNDATION FINANCIAL INSTITUTIONS BANKS

(1) Provisional (Includes only Treasury Receivables arised from Law no: 4749).

(2) As of January 31, 2016.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

OUTSTANDING OVERDUE RECEIVABLES BORROWER (Million ¨)

2006

2007

GRAND TOTAL PUBLIC SECTOR GENERAL GOVERNMENT CENTRAL GOVERNMENT İSTANBUL UNIVERSITY (PRESIDENCY) PRIVATIZATION ADMINISTRATION TURKISH STANDARDS INSTITUTION LOCAL GOVERNMENTS MUNICIPALITY OF ADANA GREATER CITY MUNICIPALITY OF ALANYA MUNICIPALITY OF ANKARA GREATER CITY ANKARA WATER AND SEWERAGE ADMINISTRATION AYDIN WATER AND SEWERAGE ADMINISTRATION MUNICIPALITY OF BAFRA BALIKESIR WATER AND SEWERAGE ADMINISTRATION MUNICIPALITY OF BANDIRMA MUNICIPALITY OF BATMAN MUNICIPALITY OF DALAMAN MUNICIPALITY OF DIDIM ELECTRICITY, GAS AND OMNIBUS AUTH. OF ANKARA MUNICIPALITY OF FOÇA GAZIANTEP WATER AND SEWERAGE ADMINISTRATION MUNICIPALITY OF GAZIANTEP GREATER CITY HATAY WATER AND SEWERAGE ADMINISTRATION MUNICIPALITY OF ISKENDERUN MUNICIPALITY OF IZMIR GREATER CITY IZMIR WATER AND SEWERAGE AUTHORITY MUNICIPALITY OF KOCAELI GREATER CITY UNION OF MARMARIS-ICMELER-ARMUTALAN MUNICIPALITIES MUNICIPALITY OF MILAS MUGLA WATER AND SEWERAGE ADMINISTRATION MUNICIPALITY OF SAKARYA GREATER CITY MUNICIPALITY OF SIIRT MUNICIPALITY OF SANLIURFA MUNICIPALITY OF YOZGAT FUNDS PUBLIC PARTICIPITATION FUND (2) SDIF-SAVING DEPOSIT INSURANCE FUND NON-FINANCIAL INSTITUTIONS SOEs CUKUROVA ELECTRICITY INC. ELECTRICITY GENERATION CO. INC. TURKISH STATE RAILWAYS TURKISH IRON AND STEEL WORKS PUBLIC CORPORATIONS İZMİT GAS DISTRIBUTION COMPANY PRIVATE SECTOR NON-FINANCIAL INSTITUTIONS FOUNDATIONS BAŞKENT UNIVERSITY Grand Total / GDP (%)

42,618 42,618 42,463 19 19 0 0 5,250 0 0 822 205 0 0 0 6 0 12 68 1,146 0 28 173 0 21 1,292 0 520 854 6 0 37 0 3 1 37,194 1,696 35,499 155 137 0 0 106 30 18 18 0 0 0 0 5.6

53,315 53,315 52,210 20 20 0 0 5,978 0 0 2,417 239 0 0 0 16 0 14 87 1,253 0 17 32 0 26 0 3 825 959 12 0 62 0 10 1 46,215 0 46,215 1,104 1,061 0 0 1,032 29 43 43 0 0 0 0 6.3

2008

8,143 8,143 6,683 44 0 0 44 6,638 2 0 2,403 259 0 0 0 26 0 16 106 1,408 0 0 30 0 32 0 0 1,167 1,065 16 0 80 0 16 1 0 0 0 1,460 1,405 0 14 1,392 0 55 55 0 0 0 0 0.9

2009

9,048 9,048 7,320 57 0 0 57 7,263 19 0 2,389 280 0 0 0 44 1 18 123 1,563 0 0 12 0 37 0 0 1,463 1,167 21 0 92 0 22 1 0 0 0 1,728 1,728 0 0 1,728 0 0 0 0 0 0 0 0.9

2010

8,289 8,289 7,857 67 0 0 67 7,790 52 0 2,403 295 0 0 0 58 0 20 135 1,680 0 0 0 0 38 0 0 1,694 1,243 25 0 103 1 27 0 0 0 0 433 433 0 0 433 0 0 0 0 0 0 0 0.8

2011

8,606 8,606 7,976 73 0 0 73 7,903 40 0 2,416 310 0 0 0 71 1 0 12 1,768 0 0 0 0 3 0 0 1,942 1,301 1 0 9 0 29 0 0 0 0 630 630 0 0 630 0 0 0 0 0 0 0 0.7

(1) 2012

7,864 7,864 7,560 80 0 0 80 7,480 116 0 2,230 0 0 0 0 81 0 0 153 1,176 0 0 0 0 36 0 0 2,188 1,356 2 0 112 0 30 0 0 0 0 304 304 0 0 304 0 0 0 0 0 0 0 0.6

2013

5,012 5,012 4,919 86 0 0 86 4,832 167 0 113 0 0 0 0 89 0 1 162 259 0 0 0 0 32 0 0 2,481 1,411 5 0 111 0 0 0 0 0 0 93 93 0 0 93 0 0 0 0 0 0 0 0.3

2014

360 360 115 93 0 0 93 22 20 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 245 245 0 0 245 0 0 0 0 0 0 0 0.0

2015

3,935 3,935 3,511 100 0 0 100 3,411 352 0 0 0 0 0 2 0 0 0 0 15 0 0 0 0 0 0 0 2,915 0 0 0 127 0 0 0 0 0 0 425 425 0 0 425 0 0 0 0 0 0 0

Jan 2016

3,970 3,970 3,540 100 0 0 100 3,440 362 0 0 0 0 0 2 0 0 0 0 15 0 0 0 0 0 0 0 2,934 0 0 0 128 0 0 0 0 0 0 430 430 0 0 430 0 0 0 0 0 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.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

COLLECTIONS FROM RECEIVABLES BORROWER (Million ¨)

2007

2008

2009

2010

2011

(1) 2012

2013

2014

2015

GRAND TOTAL 3,198.2 4,302.3 1,793.8 2,641.1 3,809.1 2,606.4 2,446.2 2,492.6 1,222.1 PUBLIC SECTOR 3,077.5 4,166.9 1,649.4 2,477.9 3,647.5 2,520.3 2,226.9 2,321.8 1,054.7 GENERAL GOVERNMENT 2,465.0 2,333.7 677.4 506.2 629.4 855.1 1,428.1 908.5 273.7 SOCIAL SECURITY INSTITUTIONS 0.2 0.7 1.4 0.7 0.5 1.5 0.9 1.1 1.2 SOCIAL SECURITY INSTITUTION 0.2 0.7 1.4 0.7 0.5 1.5 0.9 1.1 1.2 SSO-SOCIAL SECURITY ORGANIZATION 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 CENTRAL GOVERNMENT 15.0 21.6 45.5 52.6 71.6 74.9 71.0 80.5 88.3 ENERGY MARKET REGULATORY AUTHORITY 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 GENERAL DIRECTORATE OF MINERAL RESEARCH AND EXPLORATION 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 COMMITTEE OF BANKRUPTCY OF IMAR BANKASI T.A.Ş. 0.0 0.0 0.0 0.0 0.0 4.5 0.0 0.0 0.8 PRIVATIZATION ADMINISTRATION 9.6 16.7 42.2 49.5 64.6 63.1 63.4 72.1 78.2 SULEYMAN DEMIREL UNIVERSITY 2.6 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 TURKISH STANDARDS INSTITUTION 0.0 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 TUBITAK - MARMARA RESEARCH CENTER 0.9 0.8 1.1 1.0 1.1 1.2 1.3 1.5 1.7 TUBITAK - NATIONAL METROLOGY INSTITUTE 1.3 1.1 1.5 1.4 1.5 1.7 1.7 2.0 2.3 TURKISH PATENT INSTITUTE 0.4 0.4 0.5 0.5 0.5 0.6 0.6 0.7 0.8 TURKISH ATOMIC ENERGY AUTHORITHY 0.0 0.3 0.2 0.2 3.9 3.7 4.0 4.3 4.6 LOCAL GOVERNMENTS 665.5 610.4 630.5 452.8 557.4 778.8 1,356.1 826.9 184.2 MUNICIPALITY OF ADANA GREATER CITY 26.9 40.8 38.2 30.1 41.7 56.0 56.4 55.0 2.3 MUNICIPALITY OF ALANYA 1.4 1.4 2.9 2.0 1.6 4.5 5.0 1.9 0.0 MUNICIPALITY OF ANKARA GREATER CITY 111.6 182.6 168.4 95.5 71.1 256.1 297.1 135.5 6.8 MUNICIPALITY OF ANTALYA GREATER CITY 4.3 5.1 5.3 5.7 4.6 4.2 2.2 2.4 2.6 GENERAL DIRECTORATE OF ANTALYA WATER AND SEWERAGE 14.0 18.3 14.9 14.1 15.5 16.3 8.7 19.3 6.4 ADANA WATER AND SEWERAGE ADMINISTRATION 1.4 1.7 6.2 5.6 6.7 6.3 7.4 7.6 8.1 ANKARA WATER AND SEWERAGE ADMINISTRATION 20.8 21.4 22.2 20.1 20.2 29.3 52.2 45.5 28.6 AYDIN WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12.1 0.0 MUNICIPALITY OF BAFRA 0.0 0.0 0.0 0.0 0.0 0.3 0.5 0.2 0.0 BALIKESIR WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13.8 2.2 MUNICIPALITY OF BANDIRMA 2.5 2.2 2.7 3.1 3.6 5.2 6.2 2.7 0.0 MUNICIPALITY OF BATMAN 0.2 0.3 0.8 1.2 2.5 2.5 3.2 5.6 5.7 MUNICIPALITY OF BURSA GREATER CITY 51.5 46.4 34.2 30.9 36.5 28.4 25.0 27.3 28.9 BURSA WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 0.7 0.2 0.2 0.2 0.3 3.5 MUNICIPALITY OF DALAMAN 0.4 0.4 0.5 0.5 1.8 2.5 1.5 0.7 0.0 MUNICIPALITY OF DENIZLI 0.3 0.3 0.8 1.1 1.4 1.3 1.5 1.6 1.6 MUNICIPALITY OF DIDIM 0.0 0.1 0.1 0.3 0.1 0.6 0.8 0.4 0.0 DIYARBAKIR WATER AND SEWERAGE ADMINISTRATION 3.2 5.3 6.2 5.6 8.0 8.7 9.9 10.6 11.3 ELECTRICITY. GAS AND OMNIBUS AUTH. OF ANKARA 63.2 0.0 0.0 0.0 0.0 0.0 630.1 125.3 9.8 ERZURUM WATER AND SEWERAGE ADMINISTRATION 4.7 5.0 3.0 2.7 1.5 1.6 1.6 1.8 2.3 ELECTRICITY. GAS AND OMNIBUS AUTH. OF IZMIR 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 ESKISEHIR WATER AND SEWERAGE ADMINISTRATION 1.8 1.6 1.9 1.3 0.9 0.9 1.0 1.1 1.2 MUNICIPALITY OF FETHIYE 0.5 0.5 0.6 0.5 2.2 2.1 2.4 0.0 0.0 MUNICIPALITY OF FOCA 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 GAZIANTEP WATER AND SEWERAGE ADMINISTRATION 16.0 17.2 0.0 0.0 0.0 0.0 0.0 32.7 0.0 MUNICIPALITY OF GAZIANTEP GREATER CITY 18.0 22.8 31.7 17.4 1.5 23.1 39.7 1.3 1.3 HATAY WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16.2 0.0 MUNICIPALITY OF ISKENDERUN 1.0 0.6 0.8 2.0 2.2 5.8 6.0 3.2 0.0 ISTANBUL WATER AND SEWERAGE ADMINISTRATION 7.5 8.6 8.8 7.7 9.3 8.7 9.9 10.4 10.9 MUNICIPALITY OF IZMIR GREATER CITY 252.7 149.8 151.4 95.7 217.8 167.7 1.1 1.1 1.2 IZMIR WATER AND SEWEREGE AUTHORITY 10.3 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 MUNICIPALITY OF KAYSERI GREATER CITY 0.0 0.0 2.0 0.3 1.5 1.6 1.4 1.6 0.0 KAYSERİ WATER AND SEWERAGE ADMINISTRATION 4.9 7.4 7.7 6.9 8.1 6.4 6.2 6.3 6.7 MUNICIPALITY OF KOCAELI GREATER CITY 29.4 50.1 82.9 71.7 57.3 87.7 95.4 164.0 0.1 MUNICIPALITY OF KONYA GREATER CITY 1.0 1.2 1.2 1.1 1.3 1.2 1.4 1.5 1.5 KONYA WATER AND SEWERAGE ADMINISTRATION 1.8 2.0 8.7 1.3 1.4 1.5 1.5 1.7 2.0 MUNICIPALITY OF MALATYA 0.8 1.0 1.0 0.9 2.5 3.7 4.4 4.5 4.7 UNION OF MARMARIS-ICMELER-ARMUTALAN MUNICIPALITIES 0.3 0.4 1.0 1.1 0.6 2.3 2.8 1.1 0.0 MUNICIPALITY OF MENEMEN 0.0 0.1 0.1 0.4 0.4 0.0 0.0 0.0 0.0 MUNICIPALITY OF MERSIN GREATER CITY 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 MERSIN WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12.1 12.5 MUNICIPALITY OF MILAS 0.3 0.7 0.5 0.4 1.7 2.4 1.8 0.6 0.0 MUGLA WATER AND SEWERAGE ADMINISTRATION 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41.6 8.7 MUNICIPALITY OF SAKARYA GREATER CITY 4.2 5.9 10.2 9.8 9.9 16.4 18.4 17.3 0.0 MUNICIPALITY OF SAMSUN GREATER CITY 0.2 0.3 0.3 0.2 0.6 1.0 1.8 1.4 1.9 SAMSUN WATER AND SEWERAGE ADMINISTRATION 0.1 0.1 0.1 0.1 0.1 0.3 0.3 25.1 1.7 MUNICIPALITY OF SIIRT 0.1 0.1 1.0 0.7 2.1 1.5 1.4 2.1 1.9 MUNICIPALITY OF SIVAS 0.2 0.8 1.6 1.7 2.5 2.5 4.4 4.8 5.0 MUNICIPALITY OF SANLIURFA 0.7 0.9 1.2 3.1 6.3 7.9 34.4 0.0 0.0 MUNICIPALITY OF TARSUS 6.9 7.0 9.0 8.8 10.2 10.0 10.7 4.7 0.0 MUNICIPALITY OF YOZGAT 0.2 0.1 0.2 0.5 0.1 0.0 0.0 0.0 0.0 MUNICIPALITY OF ZONGULDAK 0.0 0.0 0.1 0.1 0.0 0.0 0.1 0.8 2.1

2016 Jan

91.2 87.7 18.0 0.0 0.0 0.0 2.9 0.0 0.0 0.0 0.0 0.0 0.0 1.4 0.5 1.0 0.0 15.1 2.0 0.0 5.3 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 0.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.9 0.5 0.0 4.1 0.0 0.0 0.0 0.0 0.0 0.2

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

CONTINUE FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

COLLECTIONS FROM RECEIVABLES BORROWER (Million ¨)

2007

2008

FUNDS SDIF-SAVING DEPOSIT INSURANCE FUND NON-FINANCIAL INSTITUTIONS ORGANIZATIONS İSTANBUL OLIMPIC GAMES PREPERATION & ORGANIZING BOARD THE UNION OF CHAMBERS AND COMMODITY EXCHANGES OF TUR. SOEs PETROLEUM PIPELINE CORP. SAE-STATE AIRPORT ENTERPRISE EBK - MEAT AND FISH PRODUCTS CORP. ELECTRICITY GENERATION CO. INC. SÜMER HOLDING INC. TURKISH STATE RAILWAYS TURKISH IRON AND STEEL WORKS TURKISH MARITIME ORGANIZATION INC. TURKISH ELECTRICITY DISTRUBITION INC. TURKISH ELECTRICITY TRANSMISSION INC. TURKISH ELECTRICITY TRADE AND COMMITMENT INC. GENERAL DIRECTORATE OF AGRICULTURAL ENTERPRISE GENERAL DIRECTORATE OF TURKISH COAL TURKISH GRAIN BOARD TURKISH HARD COAL CORP. TÜGSAŞ - T. FERTILIZER IND. T. SUGAR PRODUCTION INC PUBLIC CORPORATIONS EMLAK REAL ESTATE INVESTMENT TRUST İSTANBUL GAS DISTRUBITION COMPANY İZMİT GAS DISTRIBUTION COMPANY FINANCIAL INSTITUTIONS INSURANCE CORPORATIONS TURKISH CATASTROPHIC INSURANCE POOL PUBLIC BANKS GENERAL DIRECTORATE OF İLLER BANK T. HALK BANK T.EXIMBANK DEVELOPMENT BANK OF TURKEY T.C. ZİRAAT BANK PRIVATE SECTOR NON-FINANCIAL INSTITUTIONS FOUNDATIONS BAŞKENT UNIVERSITY TURKISH TECHNOLOGY DEVELOPMENT FOUNDATION COMPANIES EREĞLİ IRON & STEEL WORKS CO. CARDIOLOGY FOUNDATION FLORENCE NIGHTINGALE HOSPITAL ORGANIZATIONS BALIKESİR INDUSTRIAL ZONE KÜTAHYA INDUSTRIAL ZONE FINANCIAL INSTITUTIONS BANKS T. GARANTİ BANK T. VAKIFLAR BANK T.A.O. TOPRAKBANK A.Ş. TURKISH INDUSTRIAL DEVELOPMENT BANK YAPI VE KREDİ BANK CORP. Grand Total / GDP (%)

1,784.4 1,784.4 533.7 23.2 23.0 0.2 505.3 113.9 0.0 0.0 283.7 1.5 0.0 2.9 0.2 0.7 22.1 0.3 0.2 0.1 79.7 0.0 0.0 0.0 5.2 0.0 5.2 0.0 78.7 12.4 12.4 66.3 2.9 20.4 34.9 4.0 4.2 120.7 11.7 3.1 0.0 3.1 7.8 7.1 0.7 0.8 0.7 0.1 109.0 109.0 0.0 20.9 0.0 88.1 0.0 0.4

1,701.0 1,701.0 1,754.2 14.6 14.4 0.2 1,733.6 9.2 0.0 0.0 394.2 6.9 1.219(2) 0.0 0.3 0.7 23.1 0.3 0.2 0.0 80.0 0.0 0.0 0.0 6.0 0.0 6.0 0.0 78.9 12.6 12.6 66.2 3.1 22.1 32.1 5.6 3.3 135.4 12.1 2.7 0.0 2.7 9.0 8.2 0.8 0.4 0.4 0.1 123.3 123.3 0.0 24.0 0.0 99.3 0.0 0.5

2009

2010

2011

(1) 2012

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 890.3 1,883.8 2,910.3 1,562.9 20.2 15.9 9.9 6.8 20.0 15.7 9.7 6.5 0.2 0.2 0.2 0.2 645.4 1,683.6 2,636.3 1,296.6 10.8 9.6 10.8 10.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 470.0 1,292.5 279.8 326.5 27.7 1.6 1.9 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.3 0.3 0.3 0.8 0.7 0.4 0.0 44.0 44.1 25.5 25.8 0.3 0.3 0.2 0.0 0.2 0.2 0.2 0.2 0.0 0.0 0.0 0.0 91.3 334.3 2,317.2 932.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 224.7 184.2 264.1 259.5 155.3 178.6 257.4 253.2 6.2 5.7 6.7 6.4 63.2 0.0 0.0 0.0 81.7 87.9 107.8 102.3 15.8 21.3 21.3 14.0 15.8 21.3 21.3 14.0 65.9 66.5 86.5 88.3 3.1 3.0 3.1 0.0 24.3 26.1 31.8 31.3 33.1 25.7 29.4 31.8 5.3 11.8 22.2 25.3 0.0 0.0 0.0 0.0 144.4 163.2 161.5 86.1 13.6 6.7 5.0 5.0 3.5 3.4 3.6 4.1 0.0 0.0 0.0 0.0 3.5 3.4 3.6 4.1 9.4 2.8 0.8 0.8 8.6 2.1 0.0 0.0 0.8 0.7 0.8 0.8 0.6 0.5 0.5 0.1 0.5 0.4 0.4 0.0 0.1 0.1 0.1 0.1 130.9 156.6 156.6 81.1 130.9 156.6 156.6 81.1 0.0 0.0 0.0 0.0 22.6 39.1 53.7 27.1 0.0 0.0 0.0 0.0 108.2 117.4 102.9 54.0 0.0 0.0 0.0 0.0 0.2 0.2 0.3 0.2

2013

2014

0.0 0.0 0.0 0.0 655.2 1,288.7 6.7 4.9 6.5 4.8 0.2 0.1 421.9 1,049.9 11.0 12.6 0.0 0.0 0.0 0.0 206.7 208.9 0.1 0.0 132.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28.2 31.1 0.0 0.0 0.3 0.3 0.0 0.0 43.0 797.0 0.0 0.0 0.0 0.0 0.0 0.0 226.6 233.9 219.2 226.3 7.4 7.6 0.0 0.0 143.6 124.6 12.9 14.1 12.9 14.1 130.7 110.5 0.0 0.0 67.5 31.5 32.7 37.6 30.5 41.4 0.0 0.0 219.3 170.8 5.2 5.9 0.1 4.9 0.0 0.0 0.1 4.9 0.9 0.9 0.0 0.0 0.9 0.9 4.2 0.1 0.0 0.0 4.2 0.1 214.1 164.9 214.1 164.9 0.0 0.0 55.4 52.5 0.0 0.0 158.8 112.4 0.0 0.0 0.2 0.1

2015

0.0 0.0 676.8 0.6 0.6 0.0 457.4 0.3 0.0 0.0 213.4 0.0 0.0 0.0 0.0 0.0 59.8 0.0 0.3 0.0 183.5 0.0 0.0 0.0 218.9 210.9 8.0 0.0 104.2 0.0 0.0 104.2 0.0 23.7 47.7 32.7 0.0 167.4 6.6 5.6 0.0 5.6 1.0 0.0 1.0 0.0 0.0 0.0 160.8 160.8 0.0 38.8 0.0 122.0 0.0

2016 Jan

0.0 0.0 69.8 0.0 0.0 0.0 2.8 0.0 0.0 0.0 1.8 0.0 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 67.0 67.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.4 3.4 3.4 0.0 3.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

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

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

OTHER TREASURY CLAIMS STOCK

(1) (2)

2014 Thousand ¨

Outstanding Overdue Claims

Credits from the Decree of the Council of Ministers (No.2001/2312)

2015 Q4

Projected Claims Stock

Total

Outstanding Overdue Claims

Projected Claims Stock

Total

14,072

12,422

80,050

1,052,066

1,132,116

171,516

1,066,397

1,237,914

133

119

Funds

299,903

664,740

964,643

371,798

625,899

997,697

Other

292,560

42,561

335,121

292,969

42,561

335,530

Total

672,513

1,773,573

2,446,086

836,283

1,747,398

2,583,682

Public Banks Onlending Agreements

(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 Treasury is a party representing the legal entity of the State.

COLLECTIONS FROM OTHER TREASURY CLAIMS

(1)

2014 Thousand ¨ Credits from the Decree of the Council of Ministers (No.2001/2312)

2015 Q4 Thousand ¨

2,013

0.3%

2,348

2.1%

10,307

1.5%

71,278

64.9%

0.0%

Funds

675,759

97.3%

31,905

29.0%

Other

6,696

1.0%

4,343

4.0%

Total

694,792

100.0%

109,891

100.0%

Public Banks Onlending Agreements

(1) Provisional.

FEBRUARY 2016

UNDERSECRETARIAT OF TREASURY

128th issue of Public Debt Management Report will be published on 31th March, 2016 at 17:30.

(0312) 204 72 87 (0312) 204 72 53

www.treasury.gov.tr e-mail: kbyr@treasury.gov.tr 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 2016. Information contained in this report can be used provied that the source is cited.