Published On: Sat, Aug 17th, 2019

Turkey’s central government budget posts a surplus in July 2019

Turkey’s central government budget posts a surplus in July 2019

Amidst several economic problems the country has been coping with a surplus of TL 9.9 million was recorded in Turkey’s central government budget for July 2019 whereas there was a deficit of TL 68.7 billion for the January-July period.

The Treasury and Finance Ministry announced the budget implementation results for July 2019. Accordingly, in July budget revenues increased by 51.1 percent compared to the same month last year to TL 93.4 billion and budget expenditures increased by 37.6 percent to TL 83.5 billion.

Budget revenues in January-July period, increased by 19.5 percent compared to the same period last year to TL 496.4 billion and budget expenditures increased by 22.7 percent to TL 565.1 billion.

Thus, the central government budget posted TL 9.9 billion pounds surplus in July and a deficit of TL 68.7 billion pounds for January-July period.

However, despite this positive trend experts in economy experts note Turkey has to take some very important steps in economy and legal matters to attract foreign investment into the country.

An adequate and independent management of economy by capable professionalsfree from interventions by politicians – would also be among most important reasons why foreign investors could prefer Turkey. Moreover,  experts also emphasize steps to control the fluctuations in local currency and inflation all belong to the same package to cure the Turkish economy.





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