Turkey’s budget deficit rose 70 percent year-on-year in first half of 2019

News About Turkey - NAT
1 Min Read
Photo by M. B. M. (Unsplash)

Turkey’s budget deficit reached TL 78.6 billion ($13.77 billion) in the first six months of 2019, increasing by 70 percent over the same period last year, according to the Habertürk news website.

The budget deficit stood at TL 12.1 billion in June, with a 7.6 percent year-on-year increase in revenues and a 12.5 percent year-on-year decrease in expenditures.

According to January-June 2019 data, the salaries of public servants increased by 28 percent year-on-year, making them the largest expenditure item.

Meanwhile, total state revenues from taxes also increased 4.3 percent in the six-month period.

The average US dollar/Turkish lira exchange rate in June was 5.8, while one dollar was trading for 5.6 lira on average in the first half of the year, according to the Hürriyet Daily News.

Share This Article
Founded by a small group of Turkish/Kurdish scholars who have been subjected to persecution at the hands of the Erdogan dictatorship, News About Turkey (NAT) has emerged as a platform that is both exceptional and invaluable. Our objective is to provide you with a comprehensive and sophisticated understanding of the events and developments in Turkey (Türkiye), a country with profound historical and geopolitical importance, a vibrant culture, and a strategic location. Our founders, who have been purged by the Erdogan regime after the so-called coup attempt, are aware of the significance of journalism that is both free and independent. Because of this understanding, we are committed to providing reporting and analysis that is both objective and comprehensive. To give you the most thorough coverage of Turkey, we go further than just scratching the surface. Keep in touch with us so that you can have a better understanding of Turkey's developing story as well as vital and comprehensive news items. Whether you are a resident of Turkey, a member of the Turkish/Kurdish diaspora, or simply someone who has a strong interest in this vital country, we are the most reliable source for news that not only informs but also inspires and engages you.
Leave a comment