Turkey’s budget deficit expands 85 percent y/y from January-July
The Turk sh government’s budget surplus grew 22 percent y/y to TRY 1.13 b ll on
(€146 m ll on) n July after post ng def c t growth of 89 percent y/y to TRY 25.6 b ll on n June, data from the f nance m n stry showed on August 15. Across January-July, the budget def c t expanded by 85 percent y/y to TRY 45 b ll on wh le the central government budget produced a pr mary def c t of TRY 3.01 b ll on versus a pr mary surplus of TRY 8.44 b ll on n the f rst seven months of 2017. Expend tures rose by 22 percent y/y to
TRY 460 b ll on n the f rst seven months wh le revenues rose 18 percent y/y to TRY 415 b ll on. The government’s tax revenues rose by 20 percent y/y to TRY 349 b ll on n January-July.
The government s target ng a budget def c t of TRY 65.9 b ll on and a pr mary surplus of TRY 5.78 b ll on for 2018.