Turkish Treasury posts $3.36B cash deficit in May

Excluding interest payments, Treasury's primary balance posted $2.1B deficit last month

By Yunus Girgin

ANKARA (AA) - The Turkish Treasury's cash balance posted a deficit of 29 billion Turkish liras ($3.36 billion) last month, the Ministry of Treasury and Finance announced on Monday.

In May, the Treasury's cash revenues totaled 85.26 billion liras ($9.88 billion), showing a 13.5% yearly increase.

Its expenditures, including interest payments of 10.97 billion liras ($1.27 billion), reached some 114.27 billion liras ($13.24 billion), up 34% over the same period.

Non-interest expenditures amounted to 103.3 billion liras ($11.97 billion), driving an 18-billion-lira ($2.1-billion) deficit in the primary balance.

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

Last month's cash deficit of $3.36 billion represented the Treasury's cash revenues minus expenditures, including interest payments.

The US dollar/Turkish lira exchange rate was around 8.49 at the end of May.

Kaynak:

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