|

Turkey's budget posts $3.6B surplus in January

Central government's budget balance sees surplus last month, with $20.6B revenue, $17B expenditures

News Service
11:40 - 17/02/2020 Monday
Update: 11:41 - 17/02/2020 Monday
AA
FILE PHOTO: Businessmen holding U.S. dollars stand in front of a currency exchange office in response to the call of Turkish President Tayyip Erdogan on Turks to sell their dollar and euro savings to support the lira, in Ankara, Turkey August 14, 2018. REUTERS/Umit Bektas/File Photo
FILE PHOTO: Businessmen holding U.S. dollars stand in front of a currency exchange office in response to the call of Turkish President Tayyip Erdogan on Turks to sell their dollar and euro savings to support the lira, in Ankara, Turkey August 14, 2018. REUTERS/Umit Bektas/File Photo

Turkish central government budget balance saw a surplus of 21.5 billion Turkish liras ($3.6 billion) in January, the Treasury and Finance Ministry said on Monday.

Turkey's budget revenues rose 26% to hit 122.17 billion Turkish liras ($20.6 billion) year-on-year in January, the official data showed.

The country's budget expenditure was 100.67 billion Turkish liras ($17 billion) in the month, up 9.6% from the same month of last year.

Excluding interest payments, the budget balance also saw a surplus of 34.25 billion Turkish liras ($5.77 billion) in January, while interest expenditures totaled some 12.74 billion Turkish liras ($2.1 billion).

Government tax revenues reached 67.4 billion Turkish liras ($11.3 billion) last month, posting a 21% rise on annual basis.

The U.S. dollar/Turkish lira exchange rate averaged 5.93 in January.

In 2019, Turkey's central government budget balance posted a deficit of $21.77 billion, with $154.2 billion revenue and $175.9 billion expenses.

The country's economic program, announced last September, aims to keep the budget-deficit-to-GDP ratio at 2.9% in 2019, 2020, and 2021. The Turkish Statistical Institute will release GDP figures for 2019 in March.

#2020
#Budget Balance Table
#central government
#January
#Treasury and Finance Ministry
4 years ago