Turkey posts $3.4B budget deficit in October

Turkey's budget revenues reached 473.8 billion Turkish liras ($17B), while expenditures totaled 569.2 liras ($20.4B), resulting in a deficit of 95.5 billion liras ($3.4B) for October.

Wednesday November 15 2023 04:23 pm

Duvar English

In October, Turkey's central government budget posted a deficit of 95.5 billion Turkish liras ($3.4 billion), as disclosed by official data from the Treasury and Finance Ministry on Nov. 15.

The budget's total revenues stood at 473.8 billion liras ($17 billion), while expenditures amounted to 596.2 billion liras ($20.4 billion) for the same period.

Non-interest expenditures were 475.54 billion liras ($17.68 billion), with interest payments reaching 87.15 billion liras ($3.2 billion). Excluding interest payments, the budget showed a surplus of 28.7 billion liras ($1 billion), and tax revenues totaled 409.4 billion liras ($14.7 billion).

For the January-October period, the budget balance posted a deficit of 608.1 billion liras ($27.2 billion), with revenues at 3.9 trillion liras ($175.2 billion) and expenditures at 4.5 trillion liras ($202.4 billion) during this period.