NEWS Finance        05/02/2021

Turkish Treasury reports a cash deficit of USD 3.6 billion in January 2021

Turkey’s Ministry of Treasury and Finance announced that it recorded a cash deficit of TL 26.1 billion (USD 3.6 billion) for January 2021. Total income in January was TL 91.6 billion (USD 12.5 billion) and total expenditure was TL 117.7 billion (USD 16.1 billion). Expenditure was made up of non-interest expenditure of TL 96.6 billion (USD 13.2 billion) and interest payments of TL 21.1 billion (USD 2.9 billion).


In 2020, there was a cash deficit of TL 181.8 billion (USD 26 billion). Total income for the year 2020 was TL 1,039.1 billion (USD 135.2 billion) and total expenditure was TL 1,225.7 billion (USD 175.3 billion). Of total expenditure, non-interest expenditure was TL 1,104.5 billion (USD 158 billion) and interest payments were TL 121.2 billion (USD 17.3 billion).


In 2019, the Treasury’s cash balance showed a deficit of TL 130.5 billion (USD 23.1 billion). Revenue was TL 897 billion (USD 167.2 billion), while expenditures, including interest payments, totalled TL 1,032.8 billion (USD 182.8 billion) in this year. Expenditures included TL 98.3 billion (USD 17.4 billion) in interest payments, and non-interest payments amounted to TL 934.5 billion (USD 165.4 billion).


The U.S. dollar/Turkish lira exchange rate at the end of January 2021 was TL 7.33. The average rates used for 2020 and 2019 were TL 6.99 and TL 5.65 respectively.


Turkey’s net minimum wage has been raised 50.52% to TL 4,253.40 (USD 319) as of 01.01.2022       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s official annual inflation rate rises further to 69.97% in April 2022       Turkey’s official unemployment rate jumps to 11.5% in March 2022       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 84,680,273 as of 2021 yearend       Foreigners visiting Turkey in 2021 increase by 94.1% to 24.7 million       Turkey’s private sector foreign debt is USD 169.4 billion as of 2021 yearend       Turkey’s economy grew 11% in 2021       Foreign Direct Investment to Turkey in 2021 was USD 14 billion       Turkey’s current account records a deficit of USD 14 billion in 2021