Central government budget runs $12B gap in Jan-Aug
The Turkish central government budget balance ran a deficit of TRY 68.1 billion ($12 billion) in the January-August period, the Treasury and Finance Ministry reported September 16. The country’s budget revenues surged 21.6 percent year-on-year to TRY 590.7 billion ($105 billion) in the first eight months of this year. Budget expenditures also saw an increase of 22.8 percent to TRY 658.8 billion ($117 billion) during the same period. Excluding interest payments, the budget balance posted a surplus of TRY 1.2 billion ($213 million) from January to August. The central government’s tax revenues amounted to TRY 432.7 billion ($76.8 billion) while interest payments amounted to some TRY 69.3 billion ($12.3 billion) in the same period.