Turkey runs nearly $7B budget deficit in January-June

Dünya Executive - - COVER PAGE -

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.

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