Turkey’s cash budget posts EUR 621.5mn surplus in February.

By bne IntelliNews March 10, 2014

The cash budget ran a surplus of TRY 1.91bn (EUR 621.5mn) in February, data of the Treasury showed.

On a cash basis, the primary surplus increased to TRY 4.47bn in February from TRY 3.26bn in the previous month. Cash revenues and expenditures stood at TRY 35.03bn and TRY 33.58bn respectively.

In the first two months of the year, the cash budget produced a surplus of TRY 1.25bn while primary surplus amounted to TRY 7.58bn. The ministry of finance will release the central government budget data later this month.

The Turkish economy is facing the risk of slowing down this year which may have consequences for the budget revenues. The central government budget ran a deficit of TRY 18.45bn last year versus TRY 29.4bn deficit in 2012. The 2013 budget shortfall was lower than the government’s revised projection of TRY 19.4bn (or 1.2% of GDP). The government targets a budget deficit of TRY 33.2bn (1.9% of GDP) and a primary surplus of TRY 18.8bn (1.1% of GDP) this year.

Related Articles

Poland supports Turkey’s near-dead EU membership bid

Turkish President Recep Tayyip Erdogan received a warm welcome from his Polish peer Andrzej Duda on October 17, as Warsaw said it supported Ankara’s formally ongoing bid to become a member of the ... more

Poland claims there will be “no taboo” in talks with Erdogan

Poland will skip no touchy topics in talks with President Recep Tayyip Erdogan, visiting Warsaw on October 17, the office of President Andrzej Duda said ahead of the visit by the Turkish leader, ... more

Erdogan says he plans talks with lenders on cutting Turkish interest rates

Turkey's President Recep Tayyip Erdogan said on October 13 that he plans to hold talks with both public and private lenders on how to lower interest rates. He did not say, however, when those ... more

Dismiss