Economy in Turkey: Budget has highest monthly deficit since 2006

Central government budget expenditures amounted to TL 389.4 billion and budget revenues amounted to TL 218.8 billion. Thus, the budget balance showed a deficit of TL 170.6 billion in February. This was the highest monthly deficit since 2006.

According to the Ministry of Treasury and Finance data, budget revenues decreased to 218 billion 828 million liras corresponding to 19.1 percent in February, compared to the same month of last year. Budget expenditures also reached 389 billion 388 million liras with an increase of 93.9 percent in the same period.

January February budget revenues increased by 13.7 percent compared to the same period last year to 507 billion 906 million liras, budget expenditures increased by 104.9 percent to 710 billion 709 million liras.

TAX REVENUES DECREASED TO TL 179.6 BILLION

Thus the central government budget gave a deficit of 170 billion 560 million liras in February and 202 billion 802 million liras in the January-February period. The primary interest deficit increased from 10.9 billion liras to 136.3 billion liras. Tax revenues decreased from 252.8 billion liras to 179.6 billion liras.