NEWS Finance        07/10/2020

Turkish Treasury reported a cash deficit of USD 4 billion in September 2020

Turkey’s Ministry of Treasury and Finance announced that it recorded a cash deficit of TL 30.8 billion (USD 4 billion) for September 2020. Total income in September was TL 78.2 billion (USD 10.1 billion) and total expenditure was TL 109.4 billion (USD 14.1 billion). Expenditure was made up of non-interest expenditure of TL 94.6 billion (USD 12.2 billion) and interest payments of TL 14.8 billion (USD 1.9 billion).

 

For the first nine months of 2020, there was a cash deficit of TL 140.7 billion (USD 20.9 billion). Total income for the first nine months of 2020 was TL 740.4 billion (USD 109.9 billion) and total expenditure was TL 884.7 billion (USD 131.3 billion). Of total expenditure, non-interest expenditure was TL 787.4 billion (USD 116.8 billion) and interest payments were TL 97.3 billion (USD 14.4 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 September 2020 was TL 7.75. The average rate used for the first nine months of 2020 was TL 6.74. The average rates used for 2019 and 2018 were TL 5.65 and TL 4.54 respectively.



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