Budget posts 30 billion liras in surplus

ANKARA

The central government budget posted 30 billion Turkish Liras of surplus in January, data from the Treasury and Finance Ministry have shown.

In the same month of 2021, the budget produced a deficit of 24.15 billion liras.

Revenues showed a strong 96.4 percent of increase on an annual basis to stand at 176 billion liras while expenditures rose by 28.3 percent in January from a year ago to 146 billion, resulting in a budget surplus of 30 billion liras.
The ministry reported that interest expenditures declined more than 35 percent on an annual basis to 14.2 billion liras.

Non-interest expenditures, on the other hand, showed a 43.5 percent increase in January from a year ago to stand at 131 billion liras.

Consequently, the central government budget produced a primary surplus of 44.3 billion liras, after posting a primary deficit of 2.2 billion in the same month of 2021.

Data from the ministry also showed that tax revenues amounted to 148 billion liras in January, rising more than 86 percent on an annual basis, while non-tax revenues leaped 193 percent to 26 billion liras. Revenues from special consumption tax and value-added tax rose by 38 percent and 79.5 percent to 22.2 billion liras and 22.1 billion liras, respectively.

The ministry separately announced yesterday that it mandated Citigroup, Dubai Islamic Bank, HSBC, and Kuwait Finance House for a U.S. dollar denominated lease certificate issuance in the international capital markets.