Turkiye posts $6-bn budget surplus in May; budget revenues $27.8 bn

17 Jun '23

1 min read

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Insights

Turkiye's budget posted a surplus of $6 billion in May, official data show.
Budget revenues hit $27.8 billion, while expenditures came in at $21.8 billion during the month.
Budget revenues hit $84.5 billion between January and May, while expenditures amounted to $98.3 billion.
The budget balance ran a deficit of $13.8 billion during the five-month period.

The Turkish budget posted a surplus of 118.9 billion Turkish liras ($6 billion) in May, according to recent data from the treasury and finance ministry. Budget revenues reached 549.4 billion liras ($27.8 billion), while expenditures came in at 430.5 billion liras ($21.8 billion) during the month.

The budget balance ran a deficit of 263.6 billion Turkish liras ($13.8 billion) between January and May this year.

Budget revenues hit 1.6 trillion liras ($84.5 billion) in the five-month period, while expenditures amounted to 1.88 trillion liras ($98.3 billion).

Non-interest expenditures were at 327.8 billion liras ($16.7 billion) during May, while interest payments stood at 102.7 billion liras ($5.2 billion), Turkish newspapers reported.

Excluding interest payments, the budget balance posted a surplus of 221.6 billion liras ($11.2 million) during May, while tax revenues reached 507.4 billion liras ($25.6 billion).

A US dollar traded for 19.7869 liras on average in May, while a dollar traded for 19.0807 liras on an average in the first five months of this year.

Fibre2Fashion News Desk (DS)

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