Budget balance posts TRY 78.3bn deficit

The central government’s budget balance posted a deficit of TRY 78.3bn (USD 9.8bn) in January-July, according to the Ministry of Treasury and Finance.

The figure improved from a TRY 139bn (USD 21.3bn) deficit in the same period last year.

Budget revenues increased by 34% year-on-year to TRY 726.1bn (USD 91bn) in the first seven months of this year.

The country’s budget expenditures totaled TRY 804.4bn (USD 100.6bn) from January to July, up 18.1% from a year ago.

The budget balance, excluding interest payments, posted a surplus of TRY 36.2bn (USD 4.5bn) in January-July.

Tax revenues totaled TRY 581.7bn (USD 72.7bn), while interest payments were TRY 114.5bn (USD 14.3bn) in the same period.

One USD traded for nearly TRY 8 on average this January-July and 8.60 in July.

Monthly figure

In July, the budget balance of the central government registered a TRY 45.8bn (some USD 5.3bn) deficit, down from TRY 29.7bn (USD 4.3bn) in the same month of last year.

Budget revenues were TRY 95.3bn (USD 11.1bn) last month, rising 10% on a yearly basis.

Budget expenditures increased 21.4% from July 2020 to TRY 141.1bn (USD 16.4bn) last month.

Excluding interest payments, the central government budget balance registered a TRY 22.2bn (USD 2.6bn) deficit in July 2021.

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