Turkish Treasury reports cash deficit in January
Turkey’s Treasury reported a cash deficit of 1.5 billion liras ($397 million) in January compared with a surplus of 9.5 billion liras in the same month a year ago.
Net foreign borrowing totaled 6.9 billion liras, the highest amount over the past 12 months, after the government sold bonds to investors. Net domestic borrowing was 4.3 billion liras, the most since October, the Ankara-based Treasury said on its website on Wednesday.
Revenues were 57.4 billion liras while non-interest expenditure totaled 53.5 billion liras, meaning the Treasury posted a surplus, excluding interest payments, of 3.9 billion liras.
The Treasury reported a cash deficit of 60.5 billion liras in the whole of 2017 and a deficit, excluding interest payments, of 17.8 billion liras.