NEWS Finance        15/04/2019

Turkey records a budget deficit of USD 6.6 billion in first quarter of 2019

The Turkish Treasury and Finance Ministry has announced on April 15th its budget figures for the month of March 2019, for which a budget deficit of TL 24,477 million (USD 4,348 million) was shown, a 21% increase on the deficit of TL 20,222 million recorded in the same month of the previous year.

 

The Ministry announced total government revenue for March as TL 54,370 million (USD 9,657 million), including tax revenues of TL 41,088 million (USD 9,013 million), and budget expenditure as TL 78,846 million (USD 14,005 million), including TL 11,381 million (USD 2,021 million) in interest payments. March 2019 month end USD 1 = TL 5.63 rate was used.

 

The budget deficit for the first quarter of 2019 is TL 36,160 million, a 77.1% increase on the deficit figure of TL 20,423 million for the same period of the previous year. Total revenue for the first quarter of 2019 is TL 218,283 million, including tax revenues of TL 154,262 million, and budget expenditure is TL 254,443 million, including TL 33,364 million in interest payments. Using an average exchange rate of USD = TL 5.46, the deficit for the first quarter of 2019 is USD 6,623 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.

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 steadies at 19.50% in April 2019       Turkey’s unemployment rate remains at 14.7% in February 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 3% in the fourth quarter of 2018