NEWS Finance        17/02/2020

Turkey records a budget surplus of USD 3.6 billion for January 2020

The Turkish Treasury and Finance Ministry has announced today its budget figures for the month of January 2020, for which a budget surplus of TL 21,501 million (USD 3,595 million) was shown, a 322.3% increase on the surplus of TL 5,091 million recorded in the same month of the previous year.


The Ministry announced total government revenue for January as TL 122,170 million (USD 20,430 million), including tax revenues of TL 67,416 million (USD 11,274 million), and budget expenditure as TL 100,669 million (USD 16,834 million), including TL 12,745 million (USD 2,131 million) in interest payments. January 2020 month end USD 1 = TL 5.98 rate was used. 


The budget surplus recorded in January 2020 is most likely due to the Turkish Central Bank having distributed accumulated contingent reserves and 2019 annual profit, amounting to a total value of USD 40.5 billion, to the Treasury. 


The budget deficit for the year of 2019 was TL 123,693 million, a 69.9% increase on the deficit figure of TL 72,813 million for the same period of the previous year. Total revenue for the year of 2019 is TL 875,796 million, including tax revenues of TL 673,315 million, and budget expenditure is TL 999,489 million, including TL 99,940 million in interest payments. Using an average exchange rate of USD = TL 5.65, the deficit for the year of 2019 is USD 21,893 million.


The 2020 budget foresees total expenditures of TL 1,095,461 million, total revenues of TL 956,588 million, and a budget deficit of TL 138,673 million.

Click here for budget report (Turkish)




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