Turkey's Treasury Posts Over 250 Billion Lira Deficit in May

Turkey's Treasury and Finance Ministry has reported a significant budget deficit for the month of May, highlighting the country's fiscal challenges.

According to the ministry's cash flow statement, the Treasury's cash revenues in May totaled 1.146 trillion lira. However, the government's cash expenditures significantly exceeded this amount, reaching 1.398 trillion lira. This resulted in a substantial deficit for the month.

A considerable portion of the government's spending was allocated to interest payments. In May, these payments amounted to 123 billion lira. The non-interest balance showed a deficit of 128 billion lira, indicating the extent of spending beyond revenue even before accounting for debt servicing.

Overall, the cash balance for May recorded a deficit of 252.278 billion lira. The report also noted an increase of 1.884 billion lira attributed to currency fluctuations and a net decrease of 119.482 billion lira in cash and bank balances.