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Turkish Treasury sees $6.1B cash deficit in March

Turkish Treasury sees $6.1B cash deficit in March
Excluding interest payments, Treasury's primary balance posts $4.4 billion deficit last month

By Tuba Sahin

ANKARA (AA) - Turkey's Treasury and Finance Ministry announced Tuesday that the Treasury's cash balance last month saw a deficit of 40.4 billion Turkish liras ($6.1 billion).

In March, the Treasury's cash revenues amounted to nearly 53.9 billion Turkish liras ($8.15 billion), showing a 21% decline on a yearly basis.

Including interest payments of around 11 billion liras ($1.7 billion), expenditures surged 13% to some 94.4 billion liras ($14.3 billion).

Official figures showed that non-interest expenditures totaled 83.3 billion liras ($12.6 billion), marking a deficit of nearly 29.4 billion liras ($4.4 billion) in the primary balance.

The Treasury's received no privatization or fund income in March -- including transfers by the Turkish Privatization Administration, 4.5G license payments, and land sale revenues.

The U.S. dollar/Turkish lira exchange rate was around 6.61 at the end of March.


source: News Feed
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