The central government budget posted a surplus of TRY1.4bn (€474mn) in April vs TRY2.7bn of deficit in the same month of 2014, said the ministry of finance on May 15. The primary surplus jumped nearly 570% y/y to TRY7.5bn.
Revenues increased by 26.1% y/y, expenditures rose by 13.1% y/y in the month. Interest expenditures were up 59% y/y while non-interest expenditures increased by 7.8% y/y, data showed. The ministry said the increase in interest expenditures was temporary stemming from the maturity structure of the debt stock.
The ministry reported a 234% y/y increase in tax revenues with VAT collection rising by 13.6% y/y, special consumption tax revenues up 18.4%, and VAT collection on imports increasing by 40.6% y/y.
In the first four months of the year the central government budget deficit rose by 4.2% y/y to TRY4.06bn while the primary surplus increased by 48.2% y/y to TRY20.1bn.
The government targets TRY20.96bn of deficit (of 1.1% of GDP) and TRY33bn primary surplus this year.
|CENTRAL GOVERNMENT BUDGET REALIZATIONS|
|Thousand TRY||Apr-15||y/y||Jan-Apr/15||y/y||2014 Realization||2015 Budget|
|Compensation of Employees||10,265,039||11%||42,606,682||10%||110,370,074||119,170,124|
|Social Security Contributions||1,619,720||8%||7,074,296||8%||18,926,444||20,324,876|
|Good and Service Purchase||3,542,765||11%||10,880,200||14%||40,691,137||41,152,681|
|1-General Budget Revenues||41,209,877||27%||149,899,076||13%||409,191,031||440,997,857|
|Grants and Aids and Special Revenues||420,005||289%||1,308,529||68%||1,891,117||1,932,183|
|Interest, Shares and Fines||2,115,839||-9%||9,505,221||-12%||28,293,680||28,843,105|
|Collections from Loans||21,114||35%||151,238||-78%||902,457||804,170|
|2-Special Budget İnstitutions||1,376,715||3%||4,132,276||4%||13,419,496||7,789,211|
|3-Regularity & Supervisory Institutions||384,645||130%||2,120,584||35%||3,147,763||3,192,332|
|Source: Ministry of Finance|
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