NEWS Finance        16/07/2019

Turkey records a budget deficit of USD 14.1 billion for the first half of 2019

The Turkish Treasury and Finance Ministry has announced on July 16th its budget figures for the month of June 2019, for which a budget deficit of TL 12,053 million (USD 2.093 million) was shown, a 53% decrease on the deficit of TL 25,624 million recorded in the same month of the previous year.

 

The Ministry announced total government revenue for June as TL 55,481 million (USD 9,632 million), including tax revenues of TL 44,877 million (USD 7,791 million), and budget expenditure as TL 67,534 million (USD 11,725 million), including TL 4,360 million (USD 757 million) in interest payments. June 2019 month end USD 1 = TL 5.76 rate was used.

 

The budget deficit for the first half of 2019 is TL 78,583 million, a 70.5% increase on the deficit figure of TL 46,091 million for the same period of the previous year. Total revenue for the first half of 2019 is TL 402,984 million, including tax revenues of TL 307,743 million, and budget expenditure is TL 481,567 million, including TL 50,744 million in interest payments. Using an average exchange rate of USD = TL 5.57, the deficit for the first half of 2019 is USD 14,108 million.

 

The budget deficit for the year 2018 was TL 72,615 million, a 52% increase on the deficit figure of TL 47,779 million for the previous year 2017. Total revenue for the year 2018 was TL 757,834 million, including tax revenues of TL 621,311 million, and budget expenditure was TL 830,450 million, including TL 73,901 million in interest payments. Using an average exchange rate of USD = TL 4.54, the deficit for the year 2018 was USD 15,994 million.

 

The 2019 budget foresees total expenditures of TL 960,976 million, total revenues of TL 880,359 million, and a budget deficit of TL 80,616 million. The 2019 deficit for the first half of 2019 has already reached 97.5% of the total budgetted deficit for 2019.

Click here for budget report (Turkish)

 



Turkey’s net minimum wage has been raised 26.05% to TL 2,020 (USD 381) as of 01.01.2019       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s annual inflation rate drops to 9.26% in September 2019       Turkey’s unemployment rate jumps up to 13.9% in July 2019       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 82,003,882 as of 2018 yearend       Number of foreigners visiting Turkey in 2018 increases by 21.8% to 39.5 million       Turkey’s private sector foreign debt is USD 225.8 billion as of 2018 yearend       Turkey’s economy contracted by 2.6% in the first quarter of 2019       Turkey shows surplus of USD 538 million in its 12 month rolling current account balance in June 2019