Turkey sees record budget deficit as tax income drops after quakes

02:59 Mon, 29 May

GEO

USD

$ 2.5876

EUR

€ 2.7752

GBP

£ 3.1985

RUB

₽ 0.0324

TRY

₺ 0.0013

AZN

₼ 0.0152

XRP

0.4820

15.Mar .2023 21:00

Turkey sees record budget deficit as tax income drops after quakes

275

Back

Türkiye’s central government budget saw a deficit of 170.6 billion Turkish liras ($9.1 billion) in February, according to data released by the Treasury and Finance Ministry on Wednesday.

Budget revenues were at 218.8 billion liras ($11.6 billion), while expenditures amounted to 389.4 billion liras ($20.7 billion).

Non-interest expenditures stood at 355.2 billion liras ($18.9 billion), while interest payments were at 34.2 billion liras ($1.8 billion) in February.

Excluding interest payments, the budget balance posted a 136.3 billion liras ($7.2 billion) deficit last month, while tax revenues reached 179.6 billion liras ($9.5 billion).

One US dollar traded for 18.8375 Turkish liras on average in February, while a dollar traded for 18.80 liras on average in the first two months of 2023.

Cumulative figure

In January-February, the budget balance ran a deficit of 202.8 billion Turkish liras ($10.8 billion).

Budget revenues totaled 507.9 billion Turkish liras ($27 billion) in the first two months, while expenditures stood at 710 billion liras ($37.8 billion), AA reports.