NEWS Finance        10/08/2020

Turkish Treasury reported a cash deficit of USD 4.4 billion in July 2020

Turkey’s Ministry of Treasury and Finance announced that it recorded a cash deficit of TL 30.8 billion (USD 4.4 billion) for July 2020. Total income in July was TL 87 billion (USD 12.5 billion) and total expenditure was TL 118.2 billion (USD 17 billion). Expenditure was made up of non-interest expenditure of TL 110.1 billion (USD 15.9 billion) and interest payments of TL 8.1 billion (USD 1.2 billion).

 

For the first seven months of 2020, there was a cash deficit of TL 140.1 billion (USD 21.4 billion). Total income for the first seven months of 2020 was TL 550.3 billion (USD 84.1 billion) and total expenditure was TL 693.4 billion (USD 106 billion). Of total expenditure, non-interest expenditure was TL 622.1 billion (USD 95.1 billion) and interest payments were TL 71.3 billion (USD 10.9 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 July 2020 was TL 6.94. The average rate used for the first seven months of 2020 was TL 6.54. The average rates used for 2019 and 2018 were TL 5.65 and TL 4.54 respectively.

 



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