Turkey's Treasury reports $9.2B deficit in 7 months

By Muhammed Ali Gurtas

ANKARA (AA) – Turkey's Treasury announced Monday a cash balance deficit of 33.5 billion Turkish liras ($9.2 billion) in the first seven months of this year.

Cash revenues stood at 342 billion Turkish liras ($94.1 billion) while non-interest expenditures were 353.2 billion Turkish liras (approximately $97.2 billion) during the Jan-July period.

Cash realizations report showed that the treasury made 31.6 billion Turkish liras ­ ($8.7 billion) interest payment in addition to its non-interest expenditures.

In the same period, the treasury also collected 9.3 billion Turkish liras ($2.6 billion) in privatization and fund income.

The cash balance -- $9.2 billion deficit in that period -- is revenues plus privatization and fund income minus expenditures including interest payments.

Meanwhile, the treasury’s cash revenues in July reached 49.7 billion Turkish liras ($13.9 billion), while its non-interest expenditures were around 45 billion Turkish liras ($12.6 billion).

Last month, interest payments stood at nearly 5.3 billion Turkish liras ($1.5 billion) with a privatization and fund income of 401 million Turkish liras ($112 million).