Turkish Treasury posts $4.9B cash deficit in February

Treasury's interest payments amounted to $2.8 billion last month, ministry announces

By Gokhan Ergocun

ISTANBUL (AA) - The Turkish Treasury's cash balance saw a deficit of 25.87 billion Turkish liras ($4.88 billion) in February, the Treasury and Finance Ministry announced on Thursday.

Last month, the Treasury's cash revenues totaled 59.4 billion Turkish liras (nearly $11.2 billion), up 14.2 percent on a yearly basis.

Its expenditures -- including interest payments of 14.8 billion Turkish liras ($2.8 billion) -- also rose 33.9 percent to 85.3 billion Turkish liras ($16 billion).

In February, the Treasury's non-interest expenditures amounted to 70.5 billion Turkish liras ($13.3 billion).

The cash deficit of $4.88 billion represents the Treasury's cash revenues minus expenditures, including interest payments, in February.

The U.S. dollar/Turkish lira exchange rate was 5.30 as of the end of last month.

Kaynak: