NEWS Finance        06/09/2019

Turkish Treasury reported a cash surplus of USD 980 million in August 2019

Turkey’s Ministry of Treasury and Finance announced on September 6th, 2019 that it recorded a cash surplus of TL 5,693 million (USD 980 million) as of August 29th, 2019. Total income in August was TL 101.6 billion (USD 17.5 billion) and total expenditure was TL 95,9 billion (USD 16.5 billion). Expenditure was made up of non interest expenditure of TL 84.7 billion (USD 14.6 billion) and interest payments of TL 11.2 billion (USD 1.9 billion).


The balance for the first eight months of 2019 reflected a deficit of TL 68.1 billion (USD 12.2 billion). The Treasury received TL 608.7 billion (USD 108.9 billion) in revenue during the first eight months of 2019, while expenditures were shown as TL 679.7 billion (USD 121.6 billion). Expenditure was made up of non interest expenditure of TL 611.3 billion (USD 109.4 billion) and interest payments of TL 68.3 billion (USD 12.2 billion).


In 2018, the Treasury's cash balance showed a deficit of TL 70.4 billion (USD 15.5 billion). Revenue was TL 773.8 billion (USD 170.4 billion), while expenditures, including interest payments, totalled TL 850.5 billion (USD 187.3 billion) in this year. Expenditures included TL 70.5 billion (USD 15.5 billion) in interest payments, and non-interest payments amounted to TL 780 billion (USD 171.8 billion).


The U.S. dollar/Turkish lira exchange rate at the end of August 2019 was TL 5.81, and an average rate of TL 5.59 was used for the first eight months of 2019. The rate was TL 4.54 on average in 2018.

Turkey’s net minimum wage has been raised 15.04% to TL 2,324.70 (USD 391) as of 01.01.2020       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s annual inflation rate increases to 11.84% in December 2019       Turkey’s unemployment rate decreases to 13.4% in October 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 recorded a growth of 0.9% in the third quarter of 2019       Turkey's 12 month current account surplus is USD 2,725 million as of November 2019