The central government’s gross debt stock totaled TRY 3.12tr (USD 210.7bn) at the end of April, according to the Ministry of Treasury and Finance. The figure was up 0.3% from the previous month on a TRY basis. The gross debt stock includes the outstanding debt of public sector institutions, the Turkish Central Bank, private companies...
Tag: Ministry of Treasury and Finance
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What does an interest rate of 8.6% mean?
BY ISMET OZKUL The interest rate for the latest bond issuance by the Treasury to the international markets was 8.625%. This rate quadruples the interest rate in the U.S. market. We’ll pay USD 947m for a USD 2bn borrowing with a maturity of 5.5 years. While we insist on a low-interest policy in Turkey, we...
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Central government’s gross debt stock at TRY 2.95tr
The central government’s gross debt stock totaled TRY 2.95tr (about USD 209bn) as of the end of February, according to the Ministry of Treasury and Finance. The figure soared 58.5% from the same period last year. It includes the outstanding debt of public sector institutions, the Central Bank, private companies, and households. Some 33.4% of...
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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...
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Treasury posts TRY 55bn surplus in February
The Treasury’s cash balance registered a TRY 55.5bn surplus in February, according to the Ministry of Treasury and Finance. Cash revenues of the Treasury amounted to TRY 277.5bn last month, jumping 183% on a TRY basis from February 2021. Including interest payments of TRY 41.1bn, its expenditures hit some TRY 222.8bn, up 119% year-on-year. The...
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Treasury to repay USD 11.3bn debt in March-May
The Treasury will repay debt worth TRY 156.2bn (USD 11.3bn) in the next three months, according to the Ministry of Treasury and Finance. The Treasury will repay TRY 104.6bn (USD 7.56bn) in external debt, including TRY 28.5bn (USD 2bn) in interest payments. This March to May, some TRY 51.5bn (USD 3.7bn) of domestic debt redemption...
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Budget balance sees TRY 30bn surplus
The central government budget balance posted a TRY 30bn surplus in January, according to the Ministry of Treasury and Finance. The figure was TRY 24.15bn in the same month last year. Excluding interest payments, the budget balance posted a surplus of TRY 44.3bn last month, versus a TRY 2.21bn surplus in January 2021. Budget revenues...
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Steps to calm TRY crisis, bolster FX reserves: Reuters
Responding to an exchange rate crisis and spiralling inflation, Turkey’s government has implemented a series of measures during the past month to persuade savers, banks and companies to hold more lira rather than foreign currency. Some analysts have described the laws and regulations as soft capital controls. The Turkish authorities have also introduced a scheme...
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Should FX-protected TRY deposit accounts draw interest?
BY TALIP AKTAS How will the Treasury meet the cost if the Foreign Exchange (FX)-protected TRY deposit accounts draw interest within the next three months. The total deposit accounts hovered around TRY 5.19tr on January 1, according to the Central Bank. TRY 4.9tr is held by real and legal persons residing in Turkey. 60% of...
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Central government budget posts TRY 192.2bn deficit in 2021
The central government budget balance posted a TRY 192.24bn deficit in 2021, up by 9.7% year-on-year, according to the Ministry of Treasury and Finance. Excluding interest payments, the budget balance saw a deficit of TRY 11.39bn last year. Budget revenues rose by 36.8% to TRY 1.4tr, and budget expenditures increased by 32.9% to TRY 1.59tr...
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