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Turkish Treasury sees $4.4B cash deficit in July

11 August 2020 09:30 (UTC +04:00)

The Turkish Treasury's cash balance this July posted a deficit of 30.8 billion Turkish liras ($4.4 billion), the Treasury and Finance Ministry said Monday, APA reports citing Anadolu Agency.

Cash revenues of the Treasury totaled 87 billion Turkish liras ($12.5 billion) last month, down 2.7% from July 2019.

Its expenditures, including interest payments of around 8.1 billion liras ($1.2 billion), hit some 118.2 billion liras ($17 billion), an annual surge of 37%.

Non-interest expenditures amounted to 110.1 billion liras ($15.8 billion), driving a 23.2-billion-lira ($3.3-billion) deficit in the primary balance.

The Treasury received 450 million liras ($65 million) from the privatization or fund income in July -- including transfers by the Turkish Privatization Administration, 4.5G license payments and land sale revenues.

The US dollar/Turkish lira exchange rate was around 6.97 at the end of April.