NEWS Finance        05/07/2019

Turkish Treasury reports a cash deficit of USD 14 billion in first half of 2019

Turkey’s Ministry of Treasury and Finance announced on July 5th, 2019 that its cash deficit as of June 30th, 2019 was TL 11,016 million (USD 1.9 billion). Total income in June was TL 56.8 billion (USD 9.9 billion) and total expenditure was TL 69 billion (USD 12 billion). Expenditure was made up of non interest expenditure of TL 64.5 billion (USD 11.2 billion) and interest payments of TL 4.5 billion (USD 0.8 billion).


The balance for the first half of 2019 reflected a deficit of TL 77.9 billion (USD 14 billion). The Treasury received TL 417.7 billion (USD 75 billion) in revenue during the first half, while expenditures were shown as TL 498 billion (USD 89.4 billion). Expenditure was made up of non interest expenditure of TL 447.8 billion (USD 80.4 billion) and interest payments of TL 50.1 billion (USD 9 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 June 2019 was TL 5.76, and an average rate of TL 5.57 was used for the first half of 2019. The rate was TL 4.54 on average in 2018.



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 increases to 14% in August 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