Turkey’s cash budget posts EUR 2.1bn surplus in November.

By bne IntelliNews December 9, 2013

The cash budget produced a surplus of TRY 5.9bn (EUR 2.1bn) in November, the Treasury data showed on Friday.

The budget also posted a primary surplus of TRY 7.25bn on cash basis.

Cash revenues and cash expenditures stood at TRY 36bn and TRY 30.3bn, respectively.

In the first eleven months of the year, the cash budget produced a deficit of TRY 1.2bn while primary surplus reached TRY 33.6bn.

Turkey’s central government budget posted a deficit of TRY 3.17bn in October after a deficit of TRY 4.7bn in the previous month, the finance ministry said last month. The budget deficit in October was down 28% y/y. Finance ministry data also showed that the central budget produced a primary deficit of TRY 761mn in October after posting a primary surplus of TRY 1.37bn in the previous month. The budget had produced a primary deficit of TRY 681mn in October 2012. In January-October, the central government budget deficit stood at TRY 7.7bn, down 59.1% y/y. The primary surplus rose 57.5% y/y in the same period to TRY 38.6bn from TRY 24.5bn a year ago.

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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