Turkish Treasury posts $464 million cash surplus in January
In the same month last year, the cash budget produced a deficit of 1.55 billion liras.
Including interest payments of around 6.5 billion liras, expenditures rose by 60 percent to reach some 94.5 billion liras.
Official figures showed that non-interest expenditures amounted to nearly 88 billion liras, marking a 9 billion lira surplus in the primary balance.
Turkey’s central government budget deficit stood at 72.6 billion liras ($14.8 billion) in 2018, meeting a year-end target under the country’s new economic program.
Budget revenues rose 20.2 percent to reach 757.8 billion liras in January-December 2018, while tax incomes climbed 15.8 percent to 621.3 billion liras.
Budget expenditures rose to 830.5 billion liras ($170 billion), up 22.4 percent during the same period.
According to the new economic program, the budget deficit/GDP target is 1.8 percent this year, 1.9 percent next year, and 1.7 percent in 2021.