Turkiye's budget deficit narrows to $2.9B in July

Turkiye's central government budget recorded a deficit of 96.8 billion liras ($2.9 billion) in July, according to official data released on Thursday.

This marks a significant reduction from the previous month's deficit of 275.3 billion liras ($8.5 billion), as per the Treasury and Finance Ministry's report.

In July, budget revenues totaled 730.9 billion liras ($22.2 billion), while expenditures reached 827.7 billion liras ($25.1 billion).

Non-interest expenditures were reported at 735.2 billion liras ($22.3 billion), with interest payments amounting to 92.5 billion liras ($2.8 billion). Excluding interest payments, the budget balance posted a deficit of 4.2 billion liras ($129 million), while tax revenues stood at 611.7 billion liras ($18.6 billion).

Cumulative Figures

For the first seven months of the year, the budget balance showed a deficit of 844 billion liras ($26.5 billion). During this period, budget revenues reached 4.6 trillion liras ($143.4 billion), while expenditures amounted to 5.4 trillion liras ($170 billion).

The US dollar traded at an average of 32.90 liras in July and 31.81 liras on average during the January-July period.