Turkey posts $16 bln budget deficit in 1st half

Budget expenditures went up 17.3% on an annual basis to hit $82.3 billion from January to June

The Turkish government registered a budget deficit of 109.5 billion Turkish liras (some $16 billion) in the first half of the year, the country’s Treasury and Finance Ministry announced last week. 

Turkey’s budget revenue reached 455.4 billion Turkish liras ($66.4 billion) in the first half of the year, up 13% year-on-year, the data said.

Budget expenditures went up 17.3% on an annual basis to hit 564.9 billion Turkish liras ($82.3 billion) from January to June.

The budget balance, excluding interest payments, posted a deficit of 38.2 billion Turkish liras ($5.6 billion) in the first six months of 2020.

Official figures revealed revenue from taxes surged 9.2% to 336 billion Turkish liras ($46 billion), while interest payments were 71.2 billion Turkish liras ($10.4 billion) over the same period.

Monthly figures compared

In June, the budget balance also had a deficit of 19.4 billion Turkish liras ($2.9 billion).

Turkey’s budget revenues totaled 66.3 billion Turkish liras ($9.7 billion) last month, up 19.5% on a yearly basis.

Budget expenditures in June were 85.6 billion Turkish liras ($12.5 billion), a rise of 26.8% annually.

Excluding interest payments, the budget balance saw a gap of 13.1 billion Turkish liras ($2 billion) in May.

Would you like to support TR Technews?

Hi everyone,
I’m running Turkishtechnews.com, a website on tech developments from Turkey. I will be covering subjects ranging from startups to gadgets, digital economy to social media. I’m keen on new technologies as well. On top of those, I’m interested in drama and cinema, with one short and one long film script and three plays. Holding a B.A degree in English Language and Literature, I’m a tech journalist with 15 years of experience.

The reason why I’m here is to produce good quality journalism and try to remain independent as much as possible. Currently, journalism is torn between vague relationships between brands and journalists, not only in Turkey but also globally. Under such circumstances to remain independent is crucial and I need your support to do so.

Leave a Reply

Your email address will not be published. Required fields are marked *