Turkey's Central Government Budget Deficit Widens Further After Earthquakes

(MENAFN) According to the Treasury and Finance Ministry, Turkey's central government budget deficit for February was 170.56 billion Turkish liras, which is equivalent to USD 8.99 billion. During the same period, budget revenues stood at 218.8 billion liras (USD 11.6 billion) and expenditures amounted to 389.4 billion liras (USD 20.7 billion). Non-interest expenses were 355.2 billion liras (USD 18.9 billion), while interest payments were 34.2 billion liras (USD 1.8 billion).

Excluding interest payments, the budget balance showed a deficit of 136.3 billion liras (USD 7.2 billion) in February, while tax revenues reached 179.6 billion liras (USD 9.5 billion). The average exchange rate for the US dollar was 18.8375 Turkish liras in February and 18.80 liras in the first two months of 2023.

For the cumulative period of January to February, Turkey's central government budget recorded a deficit of 202.8 billion Turkish liras (USD 10.8 billion). Budget revenues for this period amounted to 507.9 billion Turkish liras (USD 27 billion), while expenditures were at 710 billion liras (USD 37.8 billion).

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