Turkish Treasury Posts $5.3B Cash Deficit In July

The Turkish Treasury's cash balance posted a deficit of 92.8 billion Turkish liras ($5.3 billion) in July, according to official data released on Friday.

Its cash revenues amounted to 175.9 billion Turkish liras ($10.2 billion) last month, versus 74.1 billion Turkish liras ($8.6 billion) a year ago, the Treasury and Finance Ministry said.

Including interest payments of 16.5 billion Turkish liras ($945 million), its expenditures jumped from the same month of last year on the local currency basis to hit some 270 billion Turkish liras ($15.5 billion) this July.

The average US dollar/Turkish lira exchange rate was 17.45 this July. -