Türkiye posts $6B budget surplus in May

By Tuba Ongun

ANKARA (AA) - Türkiye’s central government budget posted a surplus of 118.9 billion Turkish liras ($6 billion) in May, according to official data released on Thursday.

Budget revenues reached 549.4 billion liras ($27.8 billion), while expenditures came in at 430.5 billion liras ($21.8 billion) last month, Treasury and Finance Ministry figures showed.

Non-interest expenditures were at 327.8 billion liras ($16.7 billion), while interest payments stood at 102.7 billion liras ($5.2 billion).

Excluding interest payments, the budget balance posted a surplus of 221.6 billion liras ($11.2 million), while tax revenues reached 507.4 billion liras ($25.6 billion).

This January-May, the budget balance ran a deficit of 263.6 billion Turkish liras ($13.8 billion).

Budget revenues reached 1.6 trillion liras ($84.5 billion) in the five-month period, while expenditures amounted to 1.88 trillion liras ($98.3 billion).

One US dollar traded for 19.7869 liras on average in May, while a dollar traded for 19.0807 liras on average in the first five months of 2023.