Budget balance posts TRY 69.7bn surplus

The central government’s budget balance posted a TRY 69.7bn surplus in February, according to the Ministry of Treasury and Finance.

February’s reading was three-fold compared to the same month of last year, the data showed.

Turkey’s budget revenues more than doubled, up 126% year-on-year to TRY 270.6bn this February.

The budget expenditures reached TRY 200.8bn in February, also jumping 108% from a year ago.

Excluding interest payments, the budget balance saw a surplus of TRY 113.4bn last month.

Tax revenues reached TRY 180.3bn and interest payments were TRY 43.7bn in the same period.

In the January-February period, the budget balance ran a surplus of nearly TRY 100bn, versus a deficit of TRY 984m in the same period of last year.

Budget revenues totaled TRY 446.6bn in the first two months of 2022, while expenditures stood at TRY 346.8bn.

The budget balance, excluding interest payments, saw a surplus of TRY 157.7bn in January-February.

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