12-month budget deficit hits 2 trillion TL
According to the Treasury and Finance Ministry data, the budget balance, which posted a surplus of 51.3 billion TRY in August 2023, posted a deficit of 129.6 billion TRY in August 2024.
Central government budget posted a deficit of 129.6 billion TRY in August.
In July, the budget recorded a deficit of 96.8 billion TRY.
According to the data released by the Ministry of Treasury and Finance, annualized budget deficit was recorded as 1.97 trillion TRY in August. Thus, a record annualized budget deficit was recorded.
In July, annualized budget deficit was recorded as 1.78 trillion TRY.
Primary balance posted a deficit of 32.6 billion TRY in August.
In August, tax revenues increased by 7.8 percent to 576.7 billion TRY. Budget expenditures increased by 7.4 percent to 820.3 billion TRY. In the same period, interest expenditures increased by 7.7 percent, while interest expenditures amounted to 97 billion TRY.
Among budget expenditures, personnel expenditures and current transfers increased by 77.7 percent and 61.5 percent, respectively. Among budget revenues, tax revenues increased by 6.2 percent, while non-tax revenues rose by 56.1 percent.
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