The Turkish central government’s budget balance posted a surplus of 124.6 billion Turkish Liras ($8.63 billion) during the January-May period, the Treasury and Finance Ministry announced on Wednesday.
Türkiye’s budget revenues almost doubled to 1.08 trillion Turkish liras ($75.14 billion) year-on-year in the five-month period.
The country’s budget expenditures reached nearly 959.77 billion liras ($66.5 billion) in the same period, rising 74.5% from a year ago.
The budget balance, excluding interest payments, saw a surplus of 246.5 billion liras ($17.08 billion).
Tax revenues totaled 881.15 billion liras ($61.06 billion), while interest payments were 121.88 billion liras ($8.44 billion).
The average USD/TRY exchange rate was 14.43 during the first five months of 2022, while it was 15.65 in May.
Monthly figures?
In May alone, the budget balance of the central government registered a surplus of 143.97 billion Turkish liras ($9.2 billion).
Budget revenues were 317.75 billion liras ($20.3 billion) last month, rising 204% year-on-year.
The country’s budget expenditures rose by 47.33% from a year ago to 173.77 billion liras ($11.1 billion) last month.
Excluding interest payments, the central government budget balance recorded another surplus of 161.88 billion liras ($10.34 billion) in May.
The budget posted deficits both in May and in the first five-month period last year.?
According to the ministry’s figures, the budget balance is expected to post a deficit of 278.3 billion liras ($16.1 billion) at the end of this year.
Source: Anadolu Agency