The budget showed a surplus in August
The Ministry of Treasury and Finance announced the results of the execution of the August budget.
Consequently, the central budget had a surplus of 51.3 billion Turkish liras in August. While revenues amounted to 614 billion TL in August, expenses were 562.7 billion TL.
In the January-August period, the central budget had a total deficit of 383.4 billion Turkish liras.
Last year, the budget had a surplus of 3.6 billion Turkish lira in August and 33.1 billion Turkish lira in the January-August period.
The primary surplus was 138.4 billion TL in August and 16.7 billion TL in the January-August period.
HUGE INCREASE IN INTEREST EXPENSES
Interest expenses, which amounted to 22.7 billion TL in August last year, increased to 87.2 billion TL in the same month this year.
The budget’s interest expenses, which were 174 billion Turkish lira in the January-August period last year, increased to 400.1 billion Turkish lira in the same period this year.
Tax revenue, which amounted to 271.9 billion Turkish lira in August last year, increased to 543.2 billion Turkish lira in August this year.
Tax revenues, which amounted to 1 trillion 475 billion Turkish lira in the January-August period last year, reached 2 trillion 596 billion Turkish lira in the same period this year.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
