Turkey’s budget deficit rises ahead of snap poll
“In the second half of the year, we will balance the spending side in a controlled manner and saving additional revenues, while not stopping support for the economy,” Ağbal added.
This January to May, budget expenditures rose nearly 21 percent compared to the same period last year, totaling 322.5 billion liras ($81 billion).
Interest payments were 31.4 billion liras ($7.9 billion), while tax revenues amounted to 252 billion liras ($63.3 billion) over the same period.
The budget balance excluding interest payments saw a surplus of some 11 billion liras ($2.75 billion) in the January-May period.
The budget saw a 2.7 billion lira ($612.5 million) surplus in May, according to the ministry data.
Budget expenditures in May were 67.3 billion liras ($15.2 billion), an annual hike of around 32 percent.
Excluding interest payments, the central government budget balance saw a surplus of 8.7 billion liras ($1.97 billion) last month.
The average U.S. dollar/ lira exchange rate in May was 4.42, while one dollar was trading for 3.98 liras on average in the first five months this year, according to the Central Bank.