Turkey's government budget posts deficit of USD483.8M in November
Date
12/17/2024 4:26:55 AM
(MENAFN) Turkey's central government budget posted a deficit of 16.7 billion liras (USD483.8 million) in November, according to official data released by the Treasury and Finance Ministry on Monday. This marks a significant improvement compared to the much larger deficit of 186.3 billion liras (USD5.45 billion) recorded in October. The narrowing of the deficit indicates some positive movement in the country's fiscal balance.
In November, Turkey's budget revenues totaled 939.5 billion liras (USD27.3 billion), while expenditures amounted to 956.1 billion liras (USD27.8 billion). Non-interest expenditures accounted for the majority of spending, reaching 809.8 billion liras (USD23.5 billion), while interest payments totaled 146.3 billion liras (USD4.3 billion). Tax revenues contributed 819.4 billion liras (USD23.8 billion) to the total revenue figure.
Looking at the cumulative figures for the year, the budget balance for January-November showed a deficit of 1.3 trillion liras (USD39.1 billion). During this period, budget revenues reached 7.8 trillion liras (USD238.8 billion), while total expenditures amounted to 9 trillion liras (USD278 billion), highlighting the significant gap between revenue and spending.
The average exchange rate for the US dollar stood at 34.4037 liras in November, and 32.6288 liras on average for the January-November period, reflecting fluctuations in the currency that have impacted the overall fiscal situation.
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