Turkish Treasury runs $63.7B cash deficit in 2024

Turkish Treasury runs $63.7B cash deficit in 2024

Cash revenues hit $270.5B, while expenditures totaled at $334.6B

By Tuba Ongun

The Turkish Treasury's cash balance ran a deficit of 2.1 trillion Turkish liras ($63.7 billion) in 2024, the Treasury and Finance Ministry data showed on Wednesday.

Cash revenues of the Treasury stood at 8.9 trillion liras ($270.5 billion), while its expenditures totaled 11 trillion liras ($334.6 billion).

The Treasury collected 12.2 billion Turkish liras ($373 million) revenues from privatization or fund income in the same period.

Its interest payments came in at 1.2 trillion liras ($35.8 billion) last year.

Except for interest payments, the cash balance showed a 929.2 billion liras ($28.3 billion) deficit.

The Turkish lira traded at an average of 32.8271 per US dollar in 2024.

In December, the Treasury's cash deficit came in at 323.9 billion liras ($9.3 billion), its revenues 882.7 billion liras ($25.3 billion), and expenditures were at 1.2 trillion liras ($34.6 billion).

The average USD/TRY exchange rate was around 34.9637 last December.

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