Turkish Treasury sees $4.1B cash deficit in August

By Aysu Bicer

ANKARA (AA) – The Turkish Treasury's cash balance saw a deficit of 30.4 billion Turkish liras (nearly $4.1 billion) last month, the Treasury and Finance Ministry announced Monday.

In August, the Treasury's cash revenues rose to 112.2 billion Turkish liras ($15.3 billion), a 10.5% increase on a yearly basis.

Its expenditures, including interest payments of around 11.1 billion liras ($1.5 billion), hit some 82.5 billion liras ($11.2 billion).

The Treasury's received no privatization or fund income in August, including transfers by the Turkish Privatization Administration, 4.5G license payments, and land sale revenues.

Last month, the cash deficit of $4.1 billion represented the Treasury's cash revenues plus privatization and fund income minus expenditures, including interest payments.

The US dollar/Turkish lira exchange rate was around 7.33 at the end of August.