Turkish Treasury sees $11.6 billion cash deficit

By Bahattin Gonultas

ANKARA

Turkey's Treasury posted a cash balance deficit of 44.9 billion Turkish liras ($11.6 billion) in first 10 months of the current year, the Treasury announced on Tuesday.

Cash revenue from January to October was 505.7 billion liras ($131 billion), while non-interest expenditures were 512.3 billion liras ($132.6 billion).

The deficit came after an interest payment of 49 billion liras ($12.6 billion).

The treasury also reported 4.5 billion liras ($1.16 billion) cash deficit for the month of October.

The Treasury’s cash revenue in October was 53.2 billion Turkish liras ($13.8 billion), while its non-interest expenditures were 54.5 billion liras ($14.1 billion). Interest payments stood at 3.2 billion Turkish liras ($828 million).

The cash deficit, or cash surplus, is revenue minus expenses, minus net acquisition of nonfinancial assets. It differs in composition from the fiscal deficit, which includes all revenue and expenses.