NEWS Finance        07/04/2020

Turkish Treasury reported a cash deficit of USD 6.2 billion in March 2020

Turkey’s Ministry of Treasury and Finance announced on April 7th, 2020 that it recorded a cash deficit of TL 40.4 billion (USD 6.2 billion) for March 2020. Total income in March was TL 53.9 billion (USD 8.2 billion) and total expenditure was TL 94.4 billion (USD 14.4 billion). Expenditure was made up of non-interest expenditure of TL 83.2 billion (USD 12.7 billion) and interest payments of TL 11 billion (USD 1.7 billion).


For the first three months of 2020, there was a cash deficit of TL 26.4 billion (USD 4.3 billion). Total income for the three months was TL 261 billion (USD 42.3 billion) and total expenditure was TL 287.7 billion (USD 46.5 billion). Of total expenditure, non-interest expenditure was TL 256.2 billion (USD 41.4 billion) and interest payments were TL 31.5 billion (USD 5.1 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 March 2020 was TL 6.57. The average rate used for the first three months of 2020 was TL 6.18. The average rates used for 2019 and 2018 were TL 5.65 and TL 4.54 respectively.


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