Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 25/09/2018 09:18 
16.04.2018 13:43 News >> Update - Turkey's Budget Posts $5.3B Deficit İn Q1

Update - Turkey's Budget Posts $5.3B Deficit İn Q1

Excluding interest payments, central government budget balance saw surplus of nearly $500M in first quarter of 2018.

The Turkish government's budget balance saw a deficit of 20.4 billion Turkish liras ($5.34 billion) in the first quarter of 2018, the Finance Ministry announced on Monday.

According to an official statement, Turkey's budget revenues this January to March totaled 167.4 billion Turkish liras ($43.8 billion), up 15.7 percent compared to the same period of last year.

Over the same period, budget expenses stood at 187.9 billion Turkish liras ($49.2 billion), climbing 17.7 percent annually.

Excluding interest payments, the central government budget balance saw a surplus of nearly $500 million in the first quarter of this year.

The average U.S. dollar/Turkish lira exchange rate in the first quarter was around 3.82, according to Turkey's Central Bank.

Interest payments in the first quarter rose 18.3 percent on a yearly basis to reach 22.3 billion Turkish liras ($5.8 billion), while tax revenues reached 145.8 billion Turkish liras ($38.2 billion) -- a 19.9 percent annual rise.

Finance Minister Naci Agbal said in the statement that tax revenues for this year will exceed the targeted figures in the country's Medium-Term Program (MTP).

"The expenditures in the first quarter of the year were realized within the limits of budget allocations," he said.

"In the coming months, we will continue to decisively implement fiscal discipline to achieve the year-end budget targets in the MTP," he added.

In 2017, Turkey's budget deficit/GDP ratio was around 1.5 percent -- below the MTP target. In the country's MTP, the budget deficit/GDP ratio target is 1.9 percent this year, 1.8 percent next year, and 1.6 percent in 2020. -



        Latest News
Turkey's President Meets Japanese, Iranian Leaders -22 minutes ago...
Closed door meetings come a day before Erdogan's address to General Assembly.
Koreans Will Never Forget Turkey: Envoy 8 minutes ago...
South Korea’s ambassador to Turkey visits northeastern Artvin province.
Aid Should Focus On Development: Turkey's First Lady -7 minutes ago...
Turkey’s vision of humanitarian aid is not about aid packages or vulnerable people waiting in line, says Emine Erdogan.
Update 2 - Turkish President Meets Un Chief İn New York -37 minutes ago...
Closed door meeting comes day before Erdogan's address to General Assembly.
Us, South Korea Sign Updated Free Trade Pact -37 minutes ago...
'It's a very big deal. This is a great day for the United States and a great day for South Korea,' says Donald Trump.

 
      Top News
Update 2 - Turkish President Meets Un Chief İn New York Update 2 - Turkish President Meets Un Chief İn New York
Luka Modric Wins The Best FIFA Men's Player 2018 Award Luka Modric Wins The Best FIFA Men's Player 2018 Award
Update - Turkey: Opposition MHP Sends Amnesty Bill To Parliament Update - Turkey: Opposition MHP Sends Amnesty Bill To Parliament
Turkish Aid Body Restores Ottoman Legacy İn Niger Turkish Aid Body Restores Ottoman Legacy İn Niger
Update - Philippines: Post-Typhoon Landslides Toll Reaches 124 Update - Philippines: Post-Typhoon Landslides Toll Reaches 124
Pakistan: Top Court Rejects Petition To Disqualify Pm Pakistan: Top Court Rejects Petition To Disqualify Pm
Turkey: Daesh Terrorist Nabbed After Police Hunt Turkey: Daesh Terrorist Nabbed After Police Hunt
Update 2 - Erdogan: Turkey To İncrease Safe Zones İn Syria Update 2 - Erdogan: Turkey To İncrease Safe Zones İn Syria
More Than 500 Afghan Soldiers Killed İn One Month More Than 500 Afghan Soldiers Killed İn One Month
Israel Demands E. Jerusalem Bedouins Demolish Own Homes Israel Demands E. Jerusalem Bedouins Demolish Own Homes