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 climbed by 96.4% from TRY 89.6bn to TRY 176bn in January, year-on-year. The country’s budget expenditures increased by 28.3% from TRY 113.76bn to 145.95bn in January, compared to the same month last year. Tax revenues jumped 86.1% to TRY 147.41bn in the same period. Interest payments totaled TRY 14.23bn in January.