Turkey runs budget surplus $440 mln to August

“Fiscal discipline, which constitutes one of the most powerful aspects of the Turkish economy, will be maintained in the coming period,” he said in a statement.      
 
Ağbal vowed to continue making structural reforms without pause, which he said would add further strength to the Turkish economy.

Government revenues in July stood at 42.5 billion liras ($14.3 billion), a 6.1 percent increase year-on-year, while budget expenditures were 42.4 billion liras ($14.35 billion), down 6.8 percent from a year earlier.
       
According to the ministry, Turkish government’s budget revenues reached 317.5 billion liras ($107.5 billion) in the first seven months of the year, a 14.4 percent increase over the same period last year.        

Tax revenues also rose 9.5 percent within the period to 252.7 billion liras ($85.5 billion). Budget expenditures in January-July rose to 316.3 billion liras ($107 billion), marking a 12.1 percent increase year-on-year.

The government’s expenses for health, pension, and welfare rose nearly 20.9 percent in the first seven months of the year to 14.6 billion liras ($4.94 billion) compared with the same period last year.

Personnel expenses rose 21.1 percent, reaching 89.3 billion liras ($30.2 billion) in January-July 2016.    
    
Interest expenses stood at 30.6 billion liras ($10.3 billion) in that period, a fall of 12 percent.

The government is aiming for a budget deficit of 29.7 billion liras ($10 billion) at the end of the year, according to the Finance Ministry.