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.

 



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