NEWS Finance        08/05/2020

Turkish Treasury reported a cash deficit of USD 6.6 billion in April 2020

Turkey’s Ministry of Treasury and Finance announced on May 8th, 2020 that it recorded a cash deficit of TL 46.2 billion (USD 6.6 billion) for April 2020. Total income in April was TL 65.8 billion (USD 9.4 billion) and total expenditure was TL 112.8 billion (USD 16.2 billion). Expenditure was made up of non-interest expenditure of TL 96.4 billion (USD 13.8 billion) and interest payments of TL 16.5 billion (USD 2.4 billion).

 

For the first four months of 2020, there was a cash deficit of TL 72.6 billion (USD 11.5 billion). Total income for the four months was TL 326.9 billion (USD 51.6 billion) and total expenditure was TL 400.5 billion (USD 63.2 billion). Of total expenditure, non-interest expenditure was TL 352.5 billion (USD 55.6 billion) and interest payments were TL 48 billion (USD 7.6 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 April 2020 was TL 6.98. The average rate used for the first four months of 2020 was TL 6.34. The average rates used for 2019 and 2018 were TL 5.65 and TL 4.54 respectively.



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