Turkish Treasury posts $648M cash deficit in August

By Muhammed Ali Gurtas

ANKARA

Turkish Treasury's cash balance recorded a deficit of 3.72 billion Turkish liras ($648 million) in August, the Ministry of Treasury and Finance announced on Friday.

Last month, the Treasury's cash revenues totaled 75.5 billion Turkish liras ($13.2 billion), up 18.5 percent year-on-year, while expenditures -- including interest payments of 8.4 billion Turkish liras ($1.46 billion) -- rose 29.4 percent to 79.7 billion Turkish liras ($13.9 billion).

In August, the Treasury's non-interest expenditures amounted to 71.3 billion Turkish liras ($12.4 billion) -- a 4.2-billion-lira ($730 million) surplus in the primary balance.

The Treasury collected 500 million Turkish liras ($87 million) worth of revenue from privatization or fund income -- including transfers by the Turkish Privatization Administration, 4.5G license payments, land sale revenues -- in August.

The cash balance of $648 million represents the Treasury's cash revenues plus privatization and fund income minus expenditures, including interest payments, in August.

The average U.S. dollar/Turkish lira exchange rate was 5.74 last month.

By Muhammed Ali Gurtas

ANKARA

Turkish Treasury's cash balance recorded a deficit of 3.72 billion Turkish liras ($648 million) in August, the Ministry of Treasury and Finance announced on Friday.

In August, the Treasury's non-interest expenditures amounted to 71.3 billion Turkish liras ($12.4 billion) -- a 4.2-billion-lira ($730 million) surplus in the primary balance.

The cash balance of $648 million represents the Treasury's cash revenues plus privatization and fund income minus expenditures, including interest payments, in August.

The average U.S. dollar/Turkish lira exchange rate was 5.74 last month.