Turkey’s cash budget posts EUR 1.4bn surplus in October.

By bne IntelliNews November 8, 2013

The cash budget produced a surplus of TRY 3.8bn (EUR 1.39bn) in September, the Treasury data showed on Thursday.

The budget also posted a primary surplus of TRY 6bn on cash basis.

Cash revenues and cash expenditures stood at TRY 36.7bn and TRY 33.1bn, respectively.

In the first ten months of the year, the cash budget produced a deficit of TRY 7.1bn while primary surplus reached TRY 26bn.

Turkey’s central government budget produced a deficit of TRY 4.7bn in September after posting a deficit of TRY 3.1bn in the previous month. The budget posted a primary surplus of TRY 1.37bn in the month. In January-September, the central government budget deficit stood at TRY 4.5bn, comparing favorably with the deficit of TRY 14.35bn in the first nine months of 2012. The primary surplus rose to TRY 39.34bn in Jan-Sep from TRY 25.18bn in Jan-Aug.

The government’s budget deficit and primary surplus targets for 2013 is TRY 19.4bn (1.2% of GDP) and TRY 31.1bn (2% of GDP). The 2014 budget draft, recently submitted to parliament’s commissions by the government, targets a budget deficit of TRY 33.2bn (EUR 12bn) (1.9% of GDP) and a primary surplus of TRY 18.8bn (1.1% of GDP). 

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