Turkey's budget sees $12.3B deficit in Jan.-Sept.
Tax revenues total $459.4B while interest payments amount to over $60B in first 9 months of 2018
By Gokhan Ergocun
Turkey's central government budget balance posted a deficit of 56.7 billion Turkish liras ($12.35 billion) from January to September, the Treasury and Finance Ministry announced on Monday.
The country's budget revenues totaled 546.8 billion Turkish liras ($119 billion) in the first nine months of this year, up nearly 20 percent year-on-year, data showed.
During the same period, budget expenditures rose 23.6 percent to 603.5 billion Turkish liras ($131.5 billion) -- marking a 56.7 billion Turkish lira ($12.35 billion) deficit.
The budget balance, excluding interest payments, saw a surplus of 3.7 billion Turkish liras ($800 million) from January to September.
Official figures showed that tax revenues rose 19.2 percent to reach nearly 459.4 billion Turkish liras (around $100 billion), while interest payments were 60.4 billion Turkish liras ($13.2 billion) over the same period.
In September, the budget balance also saw a deficit of 5.96 billion Turkish liras ($934 million).
Last month Turkey's budget revenues totaled 61.08 billion Turkish liras ($9.6 billion), up nearly 27.5 percent on a yearly basis, according to official data.
Budget expenditures in September were 67 billion Turkish liras ($10.5 billion), a rise of 23.3 percent annually.
Excluding interest payments, the central government budget balance saw a surplus of 4.25 billion Turkish liras ($666 million) last month.
The average U.S. dollar/Turkish lira exchange rate in September was 6.38, while one dollar was trading for 4.59 liras on average in the first nine months of this year.
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.