Turkey: Treasury posts $464M cash surplus in Jan.

Excluding interest payments, Treasury's primary balance posts $1.68B surplus last month

By Muhammed Ali Gurtas

ANKARA (AA) - Turkish Treasury's cash balance last month saw a surplus of 2.5 billion Turkish liras ($464 million), according to an official statement on Thursday.

In January, the Treasury's cash revenues totaled some 97 billion Turkish liras ($18 billion), showing a 69 percent jump on a yearly basis, Treasury and Finance Ministry announced.

Including interest payments of around 6.5 billion Turkish liras ($1.22 billion), expenditures rose by 60 percent to reach some 94.5 billion Turkish liras ($17.5 billion).

Official figures showed that non-interest expenditures amounted to nearly 88 billion Turkish liras ($16.3 billion), marking a 9 billion Turkish liras ($1.68 billion) surplus in the primary balance.

Last year, the Treasury posted a deficit of nearly 70 billion Turkish liras ($14.6 billion) in cash balance.

The average U.S. dollar/Turkish lira was around 5.38 this January, as one dollar traded for 4.82 Turkish liras on average in 2018.

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