Budget balance posts $19 bln deficit in Jan-Nov
The data showed that reading widened 42.1 percent compared to the same period last year.
The country’s budget revenues rose 16.1 percent year-on-year, reaching 932 billion Turkish liras ($134.2 billion) in the first 11 months of 2020.
Spurred by the coronavirus pandemic, the country’s budget expenditures hit 1.6 trillion Turkish liras ($230.6 billion) from January to November, up 18.8 percent on an annual basis.
The budget balance, excluding interest payments, posted a deficit of 3 billion Turkish liras ($43 million).
Tax revenues amounted to 754.6 billion Turkish liras ($108.7 billion), while interest payments were 129 billion Turkish liras ($18.5 billion) in the same period.
In November, the budget balance registered a surplus of 13.4 billion Turkish liras ($1.6 billion).
Turkey’s budget revenues totaled 109.7 billion Turkish liras ($13.7 billion) last month, up 31.8 percent from November 2019.
Budget expenditures in the month totaled 96.3 billion Turkish liras ($12 billion), up 27.5 percent compared to the same month last year.
Excluding interest payments, the central government budget balance saw a surplus of 23 billion Turkish liras ($2.9 billion) last month.
The average U.S. dollar/Turkish lira exchange rate in November was 7.9915 while one dollar traded around 6.9491 Turkish liras on average in January-November 2020.