The Turkish central government registered a 72.8 billion Turkish lira (some $11.6 billion) budget deficit in January-April, the Treasury and Finance Ministry reported Friday.
The country’s budget revenues reached 321 billion Turkish liras ($51 billion) in the first quarter of this year, up 16% year-on-year.
Budget expenditures rose 19% on an annual basis to hit 393.8 billion Turkish liras (62.5 billion) from January to April – marking a 72.8 billion Turkish lira (some $11.6 billion) gap.
The budget balance, excluding interest payments, posted a deficit of 17.5 billion Turkish liras ($2.8 billion) in the first four months of this year.
Official figures showed that tax revenues surged 10.8% to 225.2 billion Turkish liras ($35.8 billion), while interest payments were 55.3 billion Turkish liras ($8.8 billion) over the same period.
– Monthly figures
In April, the budget balance also saw a deficit of 43.2 billion Turkish liras ($6.3 billion).
Turkey’s budget revenues totaled 65.2 billion Turkish liras ($9.5 billion) last month, down 13% on a yearly basis.
Budget expenditures in April were 108.4 billion Turkish liras ($15.8 billion), a rise of 42% annually.
Excluding interest payments, the central government budget balance saw a gap of 26.2 million Turkish liras ($3.8 billion) last month.
The average US dollar/Turkish lira exchange rate in April was 6.85, while one dollar traded for 6.30 liras on average in the first four months of 2020.
Copyright 2021 Anadolu Agency. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.