Slovak unemployment inched further down to 3.88% in March
1 day ago
Turkey’s central government budget produced a surplus of TRY926mn (€223mn) in July, up from the TRY129mn surplus posted a year earlier.
The primary surplus increased by 54.5% y/y to stand at TRY6.7bn for the month.
Data from the finance ministry showed that expenditures rose by 21.5% y/y to reach TRY51.54bn with interest payments rising 37.2% y/y to TRY5.8bn and non-interest expenditures up 19.8% y/y to TRY45.8bn. Revenues exhibited a 23.3% y/y increase to stand at TRY52.5bn in the month. Tax revenues rose by 27.6% y/y to TRY46.1bn.
The budget posted a deficit of TRY24.3bn deficit across January-July versus a surplus of TRY1.3bn in the same period of last year. Revenues increased by 10.7% y/y but the increase in expenditures was higher at 18.9% y/y. The primary surplus declined by 73.5% y/y to TRY8.4bn in the first seven months of the year.
Turkey’s budget deficit widened 25% to TRY29.3bn last year. The government’s central budget shortfall target for 2017 is 1.9% of GDP, or TRY46.9bn. However, Finance Minister Naci Agbal said in July that the budget deficit would probably exceed the official target this year.
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