Excluding interest payments, Treasury’s primary balance posts $4.4 billion deficit last month
Turkey’s Treasury and Finance Ministry announced Tuesday that the Treasury’s cash balance last month saw a deficit of 40.4 billion Turkish liras ($6.1 billion).
In March, the Treasury’s cash revenues amounted to nearly 53.9 billion Turkish liras ($8.15 billion), showing a 21% decline on a yearly basis.
Including interest payments of around 11 billion liras ($1.7 billion), expenditures surged 13% to some 94.4 billion liras ($14.3 billion).
Official figures showed that non-interest expenditures totaled 83.3 billion liras ($12.6 billion), marking a deficit of nearly 29.4 billion liras ($4.4 billion) in the primary balance.
The Treasury’s received no privatization or fund income in March including transfers by the Turkish Privatization Administration, 4.5G license payments, and land sale revenues.
The U.S. dollar/Turkish lira exchange rate was around 6.61 at the end of March.