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Turkish Treasury reports cash balance deficit of USD47.8B in first 9 months
(MENAFN) The Turkish Treasury reported a cash balance deficit of 1.54 trillion Turkish liras (approximately USD47.8 billion) for the January-September period, as announced by the Treasury and Finance Ministry on Monday. This significant deficit underscores the ongoing financial challenges faced by the government amid economic fluctuations.
In September alone, the Treasury's cash revenues amounted to 6.2 trillion Turkish liras (USD191.8 billion). However, the expenditures for the same month were substantially higher, totaling 7.75 trillion Turkish liras (USD239.6 billion). This figure included interest payments of 849.8 billion Turkish liras (USD26.28 billion), which contributed to the overall deficit.
Over the nine-month period, the Treasury's non-interest expenditures reached 6.9 trillion Turkish liras (USD213.4 billion), highlighting the government's spending priorities during this timeframe. The cash deficit of USD47.8 billion is calculated as the difference between the Treasury's cash revenues and total expenditures, inclusive of interest payments, demonstrating the financial pressures on the Turkish government.
Additionally, during this period, the average USD/TRY exchange rate was recorded at 32.33. This exchange rate reflects the broader economic conditions and currency fluctuations impacting the Turkish economy, further influencing the Treasury's financial outlook and cash management strategies.
In September alone, the Treasury's cash revenues amounted to 6.2 trillion Turkish liras (USD191.8 billion). However, the expenditures for the same month were substantially higher, totaling 7.75 trillion Turkish liras (USD239.6 billion). This figure included interest payments of 849.8 billion Turkish liras (USD26.28 billion), which contributed to the overall deficit.
Over the nine-month period, the Treasury's non-interest expenditures reached 6.9 trillion Turkish liras (USD213.4 billion), highlighting the government's spending priorities during this timeframe. The cash deficit of USD47.8 billion is calculated as the difference between the Treasury's cash revenues and total expenditures, inclusive of interest payments, demonstrating the financial pressures on the Turkish government.
Additionally, during this period, the average USD/TRY exchange rate was recorded at 32.33. This exchange rate reflects the broader economic conditions and currency fluctuations impacting the Turkish economy, further influencing the Treasury's financial outlook and cash management strategies.
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