NEWS Finance        05/06/2020

Turkish Treasury reported a cash deficit of USD 1.4 billion in May 2020

Turkey’s Ministry of Treasury and Finance announced that it recorded a cash deficit of TL 9.7 billion (USD 1.4 billion) for May 2020. Total income in May was TL 75.3 billion (USD 11.1 billion) and total expenditure was TL 85.3 billion (USD 12.5 billion). Expenditure was made up of non-interest expenditure of TL 76.3 billion (USD 11.2 billion) and interest payments of TL 9 billion (USD 1.3 billion).

 

For the first five months of 2020, there was a cash deficit of TL 82.4 billion (USD 12.8 billion). Total income for the five months was TL 402.1 billion (USD 62.6 billion) and total expenditure was TL 485.8 billion (USD 75.7 billion). Of total expenditure, non-interest expenditure was TL428.8 billion (USD 66.8 billion) and interest payments were TL 57 billion (USD 8.9 billion).

 

The balance for the year of 2019 reflected a deficit of TL 130.5 billion (USD 23.1 billion). The Treasury received TL 897 billion (USD 167.2 billion) in revenue during the year of 2019, while expenditures were shown as TL 1,032.8 billion (USD 182.8 billion). Expenditure was made up of non-interest expenditure of TL 934.5 billion (USD 165.4 billion) and interest payments of TL 98.3 billion (USD 17.4 billion).

 

In 2018, the Treasury's cash balance showed a deficit of TL 70.4 billion (USD 16.7 billion). Revenue was TL 773.8 billion (USD 170.4 billion), while expenditures, including interest payments, totalled TL 850.5 billion (USD 187.3 billion) in this year. Expenditures included TL 70.5 billion (USD 15.5 billion) in interest payments, and non-interest payments amounted to TL 780 billion (USD 171.8 billion).

 

The U.S. dollar/Turkish lira exchange rate at the end of May 2020 was TL 6.81. The average rate used for the first five months of 2020 was TL 6.42. The average rates used for 2019 and 2018 were TL 5.65 and TL 4.54 respectively



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