Turkey's budget balance posts $21.3B deficit in Jan-July

# 17 August 2020 18:13 (UTC +04:00)

The Turkish central government posted a 139.1-billion-Turkish lira ($21.3-billion) budget deficit in January-July, the Treasury and Finance Ministry revealed Monday, APA reports citing Anadolu Agency.

Budget revenues of the country rose 9% year-on-year, reaching 541.9 billion Turkish liras ($82.8 billion) in the first seven months of this year.

Spurred by the coronavirus pandemic, the country’s budget expenditures hit 681.1 billion Turkish liras ($104 billion) from January to July, up 21% on an annual basis.

The budget balance, excluding interest payments, posted a deficit of 59.4 billion Turkish liras ($9.1 billion).

Tax revenues amounted to 412 billion Turkish liras ($63 billion), while interest payments were 79.7 billion Turkish liras ($12.2 billion) in the same period.