Turkish Treasury posts over $16B deficit in 2017

Treasury’s cash revenues in 2017 were over $166 billion, while non-interest expenditures were $171 billion

By Gokhan Ergocun

ANKARA (AA) - Turkey's Treasury on Monday posted a cash balance deficit of 60.45 billion Turkish liras ($16.1 billion) in 2017.

The cash revenue from January to December was 623.81 billion Turkish liras ($166.29 billion), while non-interest expenditures amounted to 641.65 billion Turkish liras ($171.04 billion), according to a statement.

Over the same period, the Treasury collected nearly 12.86 billion Turkish liras ($3.42 billion) in privatization and fund income. This amount includes the transfer made by the Turkish Privatization Administration, 4.5G license payment, land sales revenue etc.

Interest payments, in the 12-month-period, were 55.47 billion Turkish liras ($14.78 billion), making it the top contributor to the balance deficit.

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

The Treasury also saw a deficit of 21.11 billion Turkish liras ($5.62 billion) in December.

In 2016, the Treasury had posted a cash balance deficit of 38.2 billion Turkish liras ($10.18 billion).

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