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Türkiye's Budget Balance Posts Surplus For 1St Time This Year

20.06.2024 11:57

Central government budget surplus comes in at $6.8B in May, reversing from 6 months of deficit.

Türkiye's central government budget ran a surplus in May for the first time since November 2023, according to official data released Thursday.

The budget surplus came in at 219.4 billion Turkish liras ($6.8 billion), shifting from six months of deficit, Treasury and Finance Ministry data showed.

Budget revenues amounted to 1 trillion liras ($31.3 billion), while expenditures was at 787.7 billion liras ($24.4 billion) last month.

Non-interest expenditures reached to 677 billion liras ($21 billion), while interest payments totaled 110.6 billion liras ($3.4 billion).

Excluding interest payments, the budget balance posted a surplus of 330.1 billion liras ($10.2 billion), while tax revenues totaled 898.4 billion liras ($27.9 billion).

Cumulative figure

In January-May, the budget balance registered a deficit of 471.9 billion liras ($15 billion).

Budget revenues reached 3.2 trillion liras ($103 billion) in the first five months of the year, while spending amounted to 3.7 trillion liras ($118 billion).

A US dollar traded for 32.2269 liras on average in May and for 31.4584 liras on average in the January-May. -

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