Public debt at $60 billion

Biggest increase since 2007

The gross public debt reached $60.03 billion at end-June 2013, up by 8.6 percent compared to end-June 2012. This year-on-year increase is the biggest since 2007. Net public debt when subtracting public sector deposits in commercial banks and the Central Bank (BDL), reached $51 billion, also up by eight percent.

Lira-denominated debt totaled the equivalent of $34 billion, up by 5.2 percent, while foreign currency debt grew by 13.3 percent, to $26 billion.

Banks held 50.5 percent of local currency debt, followed by the BDL (32 percent) and the non-banking sector (17.5 percent). At December 2012, overall debt held by local banks reached 54 percent. The BDL held another 30 percent.

The face value of outstanding Treasury Bills and Treasury securities portfolio climbed to $33.31 billion and $23.26 million respectively, compared to $31.62 billion and $20.17 million previously.

Outstanding Eurobonds reached $23.2 billion, rising by 15 percent and accounting for 90 percent of the foreign currency debt. Other sources of foreign debt include multilateral and bilateral institutions, mainly Arab funds, World Bank, and Paris III conference lenders.