Turkey runs nearly $7B budget deficit in January-June
Turkey ran a budget deficit of TL 25.2 billion (around $6.9 billion) from this January to June, Finance Minister Naci Agbal said on July 17. The budget deficit in June stood at TL 13.7 billion (around $3.9 billion), compared to a surplus of TL 6.4 billion (around $1.8 billion) in May. “The budget deficit for the first six months of this year stands at 53.9% of the government’s end-year targets,” Agbal said. The government is aiming for a budget deficit of TL 46.9 billion (almost $12.9 billion) at the end of the year, according to the Finance Ministry. Agbal said there would be no tax increases or adjustments for the purpose of extra revenue until the end of this year.