Treasury's Cash Balance Suffers 2.3 Quadrillion Liras Deficit

ANKARA - Treasury's cash balance suffered a 2.3 quadrillion Turkish liras (TL) deficit in February of 2004 although the primary surplus on cash basis was nearly 1.5 quadrillion TL.
Releasing a statement on Friday, the Treasury Undersecretariat said that the total revenues on cash basis was 6.5 quadrillion TL, total non-interest expenditures was 5 quadrillion TL in February of 2004 thus primary surplus was 1,5 quadrillion TL.
It said that Treasury's cash balance suffered a 2.3 quadrillion TL deficit in February of 2004 as there was a total of 3.8 quadrillion TL interest payments. The deficit was financed by net borrowing.
Meanwhile, total revenues on cash basis between January-February 2004 was 13.4 quadrillion TL while total non-interest expenditures was 12.3 quadrillion TL and non-interest surplus was 1.1 quadrillion TL.
When the Treasury fulfilled a 9.3 quadrillion TL interest payment service in January-February 2004 period, Treasury's cash balance suffered a 8.2 quadrillion TL deficit, it said and added that annual deficit had been financed by net borrowing.
(MS-AY) 05.03.2004