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FinancialNews
24-10-19
Turkey achieves Maastricht criteria in 2018
(MENAFN) According to the country's statistical authority on Wednesday, Turkey fulfilled Maastricht criteria with its government accounts in 2018.
The country's general government shortfall and consolidated debt stock stood at 2.8percent and 30.4percent, respectively, of its gross domestic product (GDP) last year, TurkStat said.
Maastricht criteria are calculated by candidate and member states of the EU and require a maximum of 3percent budgetary deficit and 60percent debt stock to GDP ratio.
The government posted USD22 billion of deficit, the difference between total income and expenditures, in 2018.
"Social security funds sector gave surplus in 2018 whereas other sectors gave deficit," TurkStat said.
Total expenditures of general government were USD268 billion last year, 35percent of its GDP.
MENAFN2410201900450000ID1099173117
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