Turkey: Finance Ministry’s Treasury cash deficit at 1.4 billion dollars in May

Turkey: Finance Ministry’s Treasury cash deficit at 1.4 billion dollars in May

Excluding interest payments, the main balance of the Ministry of Finance recorded a $ 147 million deficit of last month

The Turkish Finance Ministry’s monetary balance sheet in May fell by 9.7 billion Turkish lira (about $ 1.4 billion), as the Ministry of Finance and Treasury announced on Friday.

Cash inflows amounted to 75.2 billion Turkish lira ($ 11 billion) last month, rising by 14.3% from 2019.

Expenditures, including interest payments of around 9 billion ($ 1.3 billion), amounted to 85.3 billion ($ 12.5 billion).

Interest expenses amounted to 76.2 billion pounds ($ 11.2 billion), leading to a deficit of 1 billion pounds ($ 147 million) in the primary balance.

The Finance ministry received 300 million ($ 44 million) from privatizations or capital gains in May – including transfers from the Turkish Privatization Authority, 4 and 5G license payments and land sales.

Last month, the $ 1.4 billion cash deficit represented the Treasury’s cash revenue plus privatization and capital expenditure minus spending, including interest payments.

The US dollar / Turkish lira exchange rate was around 6.82 at the end of May. /ibna