NEWS Finance        08/01/2021

Turkish Treasury reports a cash deficit of USD 6.3 billion in December 2020

Turkey’s Ministry of Treasury and Finance announced that it recorded a cash deficit of TL 46.7 billion (USD 6.3 billion) for December 2020. Total income in December was TL 98.3 billion (USD 13.2 billion) and total expenditure was TL 146 billion (USD 19.7 billion). Expenditure was made up of non-interest expenditure of TL 141.9 billion (USD 19.1 billion) and interest payments of TL 4.1 billion (USD 0.6 billion).

 

For the total year of 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).

 

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 December 2020 was TL 7.43. The average rate used for the total year of 2020 was TL 6.99. The average rates used for 2019 and 2018 were TL 5.65 and TL 4.54 respectively.

 



Turkey’s net minimum wage has been raised 21.56% to TL 2,825.90 (USD 380) as of 01.01.2021       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 increases to 19.89% in October 2021       Turkey’s official unemployment rate falls to 11.5% in September 2021       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 83,614,362 as of 2020 yearend       Foreigners visiting Turkey in 2020 falls by 71.7% to 12.7 million       Turkey’s private sector foreign debt is USD 173.9 billion as of 2020 yearend       Turkey’s economy grew by 1.8% in 2020       Foreign Direct Investment inflow to Turkey was USD 7.7 billion in 2020