Turkey’s Ministry of Treasury and Finance announced on August 7th, 2019 that it recorded a cash surplus of TL 4,076 million (USD 0.7 billion) as of July 31st, 2019. Total income in July was TL 89.5 billion (USD 16.2 billion) and total expenditure was TL 85,8 billion (USD 15.5 billion). Expenditure was made up of non interest expenditure of TL 78.8 billion (USD 14.3 billion) and interest payments of TL 7 billion (USD 1.2 billion).
The balance for the first seven months of 2019 reflected a deficit of TL 73.8 billion (USD 13.2 billion). The Treasury received TL 507.2 billion (USD 91.1 billion) in revenue during the first seven months of 2019, while expenditures were shown as TL 583.8 billion (USD 104.8 billion). Expenditure was made up of non interest expenditure of TL 526.6 billion (USD 94.5 billion) and interest payments of TL 57.1 billion (USD 10.3 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 July 2019 was TL 5.52, and an average rate of TL 5.57 was used for the first seven months of 2019. The rate was TL 4.54 on average in 2018.