{"id":23854,"date":"2025-12-22T22:00:03","date_gmt":"2025-12-22T19:00:03","guid":{"rendered":"https:\/\/ekonomigundemi.com.tr\/index.php\/2025\/12\/22\/merkezi-yonetim-borc-stoku-kasim-2025te-133-trilyon-tlye-ulasti"},"modified":"2025-12-22T22:00:03","modified_gmt":"2025-12-22T19:00:03","slug":"merkezi-yonetim-borc-stoku-kasim-2025te-133-trilyon-tlye-ulasti","status":"publish","type":"post","link":"https:\/\/ekonomigundemi.com.tr\/index.php\/2025\/12\/22\/merkezi-yonetim-borc-stoku-kasim-2025te-133-trilyon-tlye-ulasti\/","title":{"rendered":"Merkezi Y\u00f6netim Bor\u00e7 Stoku Kas\u0131m 2025\u2019te 13,3 trilyon TL\u2019ye ula\u015ft\u0131"},"content":{"rendered":"

Bor\u00e7 stokunun y\u00fczde 59,6\u2019s\u0131n\u0131 7 trilyon 941 milyar TL ile i\u00e7 bor\u00e7lar, y\u00fczde 40,4\u2019\u00fcn\u00fc ise 5 trilyon 384 milyar TL ile d\u0131\u015f bor\u00e7lar olu\u015fturdu.<\/p>\n

Bor\u00e7 enstr\u00fcmanlar\u0131n\u0131n da\u011f\u0131l\u0131m\u0131nda tahviller 11,78 trilyon TL ile en b\u00fcy\u00fck paya sahip olurken, hazine bonolar\u0131 265,6 milyar TL, kredi stoku ise 1,28 trilyon TL seviyesinde yer ald\u0131. Faiz yap\u0131s\u0131 incelendi\u011finde, toplam bor\u00e7 stokunun y\u00fczde 65,58\u2019inin sabit faizli, y\u00fczde 29,26\u2019s\u0131n\u0131n de\u011fi\u015fken faizli ve y\u00fczde 5,17\u2019sinin T\u00dcFE\u2019ye endeksli tahvillerden olu\u015ftu\u011fu g\u00f6r\u00fcld\u00fc. D\u00f6viz kompozisyonuna g\u00f6re ise TL cinsi bor\u00e7 stoku 6,27 trilyon TL, d\u00f6viz cinsi bor\u00e7 stoku ise 7,05 trilyon TL olarak kaydedildi.<\/p>\n

Marmara \u00dcniversitesi Finansal Bilimler Fak\u00fcltesi Bankac\u0131l\u0131k B\u00f6l\u00fcm\u00fc \u00d6\u011fretim \u00dcyesi Do\u00e7. Dr. G\u00f6khan I\u015f\u0131l, Kas\u0131m 2025 verilerinin merkezi y\u00f6netim bor\u00e7 stokunun miktar ve yap\u0131sal kompozisyon a\u00e7\u0131s\u0131ndan kritik bir dengede oldu\u011funu g\u00f6sterdi\u011fini belirtti. I\u015f\u0131l, sabit faizli bor\u00e7lar\u0131n toplam stok i\u00e7indeki pay\u0131n\u0131n y\u00fczde 65\u2019in \u00fczerinde olmas\u0131n\u0131n, faiz oranlar\u0131ndaki dalgalanmalara kar\u015f\u0131 b\u00fct\u00e7e \u00fczerindeki faiz y\u00fck\u00fcn\u00fc s\u0131n\u0131rlayan \u00f6nemli bir unsur oldu\u011funu ifade etti.<\/p>\n

Buna kar\u015f\u0131n borcun yakla\u015f\u0131k y\u00fczde 53\u2019\u00fcn\u00fcn d\u00f6viz cinsi olmas\u0131n\u0131n, kur hareketlerine kar\u015f\u0131 hassasiyetin s\u00fcrd\u00fc\u011f\u00fcne i\u015faret etti\u011fini vurgulayan I\u015f\u0131l, vade yap\u0131s\u0131na da dikkat \u00e7ekti. D\u0131\u015f borcun ortalama vadesinin 6,5 y\u0131l\u0131n \u00fczerinde olmas\u0131n\u0131n uzun vadeli finansman g\u00fcc\u00fcn\u00fc teyit etti\u011fini belirten I\u015f\u0131l, i\u00e7 borcun ortalama vadesinin 2,6 y\u0131l seviyesinde kalmas\u0131n\u0131n ise \u00f6n\u00fcm\u00fczdeki d\u00f6nemde i\u00e7 bor\u00e7lanma vadelerinin uzat\u0131lmas\u0131n\u0131n makro finansal istikrar a\u00e7\u0131s\u0131ndan \u00f6nemini korudu\u011funu s\u00f6yledi.<\/p>\n

<\/strong>
\nEKONOM\u0130 GAZETES\u0130 <\/p>\n","protected":false},"excerpt":{"rendered":"

\u0130stanbul, 22 Aral\u0131k (Hibya) – Hazine ve Maliye Bakanl\u0131\u011f\u0131 Merkezi Y\u00f6netim Bor\u00e7 Stoku \u0130statistikleri\u2019ne g\u00f6re, 2025 y\u0131l\u0131 Kas\u0131m ay\u0131 itibar\u0131yla T\u00fcrkiye\u2019nin merkezi y\u00f6netim toplam bor\u00e7 stoku 13 trilyon 325 milyar TL olarak ger\u00e7ekle\u015fti. <\/p>\n","protected":false},"author":1,"featured_media":23855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow07ekDA:productID":"","footnotes":""},"categories":[12,4,1],"tags":[],"class_list":["post-23854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spor","category-dunya","category-ekonomi"],"_links":{"self":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/23854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/comments?post=23854"}],"version-history":[{"count":0,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/23854\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media\/23855"}],"wp:attachment":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media?parent=23854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/categories?post=23854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/tags?post=23854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}