Treasury sees over $10 bln deficit last year : Turkey

ANKARA (AA) - Turkey's Treasury posted a cash balance deficit of 38.2 billion Turkish liras ($10.5 billion) from January to December 2016, the Treasury announced on Friday.

Cash revenue during the period was 538.5 billion liras ($148.4 billion), while non-interest expenditures were 543.7 billion liras ($149.8 billion).

The deficit came after an interest payment of 49.2 billion liras ($13.5 billion). The treasury also received 16.2 billion lira ($4.46 billion) from privatization and funds income during last year.

The Treasury’s cash revenue in December was 61.6 billion Turkish liras ($17 billion), while its non-interest expenditures were 67.9 billion liras ($18.7 billion). Interest payments stood at 2 billion Turkish liras ($551 million).

The cash deficit, or cash surplus, is revenue minus expenses, minus net acquisition of nonfinancial assets. It differs in composition from the fiscal deficit, which includes all revenue and expenses.