NEWS Finance        06/11/2020

Turkish Treasury reports a cash deficit of USD 21.4 billion in first 10 months of 2020

Turkey’s Ministry of Treasury and Finance announced that it recorded a cash deficit of TL 6.7 billion (USD 0.8 billion) for October 2020. Total income in October was TL 90.2 billion (USD 10.8 billion) and total expenditure was TL 96.8 billion (USD 11.7 billion). Expenditure was made up of non-interest expenditure of TL 85.8 billion (USD 10.3 billion) and interest payments of TL 11 billion (USD 1.3 billion).

 

For the first ten months of 2020, there was a cash deficit of TL 147.5 billion (USD 21.4 billion). Total income for the first ten months of 2020 was TL 830.3 billion (USD 120.7 billion) and total expenditure was TL 981.6 billion (USD 142.7 billion). Of total expenditure, non-interest expenditure was TL 873.2 billion (USD 126.9 billion) and interest payments were TL 108.4 billion (USD 15.7 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 October 2020 was TL 8.31. The average rate used for the first ten months of 2020 was TL 6.88. The average rates used for 2019 and 2018 were TL 5.65 and TL 4.54 respectively



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