Turkish Treasury sees $3.9B cash deficit in June

Treasury's cash revenues total $8.97 billion, up 8.3% year-on-year last month

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's Treasury and Finance Ministry announced on Tuesday that the Treasury's cash balance saw a deficit of 26.76 billion Turkish liras ($3.9 billion) last month.

In June, the Treasury's cash revenues mounted to 61.44 billion Turkish liras ($8.97 billion), showing a 8.3% increase on a yearly basis.

Its expenditures, including interest payments of around 6.22 billion liras ($908 million), hit some 89.45 billion liras ($13.05 billion).

The Treasury received 1.25 billion liras ($182 million) from privatization or fund income in June -- including transfers by the Turkish Privatization Administration, 4.5G license payments, and land sale revenues.

Last month, the cash deficit of $3.9 billion represented the Treasury's cash revenues plus privatization and fund income minus expenditures, including interest payments.

During the first six months, the Treasury posted 109.25 billion liras ($15.95 billion) of deficit, with 463.4 billions ($67.6 billion) of revenue.

The U.S. dollar/Turkish lira exchange rate was around 6.85 at the end of June.

Kaynak: