Turkish Treasury sees $1.3B cash deficit in September
ANKARA – Anadolu Agency
Turkey's Treasury and Finance Ministry announced Friday that the Treasury's cash balance last month saw a deficit of 8.2 billion Turkish liras ($1.3 billion).
In September, the Treasury's cash revenues amounted to 62.2 billion Turkish liras ($9.7 billion), showing a 32.6 percent jump on a yearly basis.
Including interest payments of 10.7 billion liras ($1.6 billion), expenditures surged 23.2 percent to 70.5 billion liras ($11 billion).
Official figures showed that non-interest expenditures totaled 59.8 billion liras ($9.4 billion), marking a 2.3 billion lira ($363 million) surplus in the primary balance.
The Treasury received 165 million liras ($26 million) from the privatization or fund income last month -- including transfers by the Turkish Privatization Administration, 4.5G license payments, and land sale revenues.
In September, the cash deficit of $1.3 billion represents the Treasury's cash revenues plus privatization and fund income minus expenditures, including interest payments.
Last month, one U.S. dollar exchanged for 6.38 Turkish liras on average.
The Treasury's cash revenue totaled 560.2 billion liras ($121.5 billion) and expenditures were 614.5 billion liras ($133.3 billion) this January-September.
Non-interest expenditures amounted to 557.4 billion liras ($120.9 billion) -- a 2.8-billion-lira ($607 million) surplus in the nine-month primary balance.
As a main contributor to the cash deficit, interest payments were 57.2 billion liras ($12.4 billion), and privatization/fund income was 4.9 billion Turkish liras ($1.07 billion).
Therefore, the nine-month cash balance saw a deficit of 49.5 billion liras ($10.7 billion) over the same period.
In 2017, the Treasury's cash balance ran a deficit of 60.4 billion Turkish liras ($16.5 billion).
The 12-month revenue plus privatization or fund income amounted to 636.6 billion Turkish liras ($174.5 billion), while expenditures last year -- including interest payments -- surpassed 697 billion Turkish liras ($191 billion).
The average U.S. dollar/Turkish lira exchange rate was 4.61 this January-September, while one dollar traded for 3.65 liras on average in 2017.