Turkish Treasury sees $1.62B cash deficit in April

By Yunus Girgin

ISTANBUL (AA) - The Turkish Treasury's cash balance posted a deficit of 13.29 billion Turkish liras ($1.62 billion) last month, the country Ministry of Treasury and Finance Ministry announced on Friday.

In April, the Treasury's cash revenues totaled 97.45 billion Turkish liras ($11.9 billion), showing a 48% yearly increase.

Its expenditures, including interest payments of 12.7 billion Turkish liras ($1.55 billion), reached some 111.5 billion liras ($13.63 billion), down 1.15% over the same period.

Non-interest expenditures amounted to 98.8 billion Turkish liras ($12.07 billion), driving a 1.39 billion lira ($170 million) deficit in the primary balance.

The Treasury in April received 800 million Turkish liras ($98 million) in privatization or fund income -- including transfers by the Turkish Privatization Administration, 4.5G license payments, and land sale revenues.

Last month's cash deficit of $1.62 billion represented the Treasury's cash revenues minus expenditures, including interest payments.

The US dollar/Turkish lira exchange rate was around 8.18 at the end of April.