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  • 08-06-23

    Turkish Treasury Records Surplus in May After Months of Deficit

    (MENAFN) The Turkish Treasury's cash balance, which had been in a deficit for five months in a row, turned the tide in May, in line to what was mentioned in the official data issued on Wednesday. The Treasury and Finance Ministry mentioned in a report a cash surplus of 169.8 billion Turkish liras (USD8.6 billion) for the previous month.

    The Treasury's cash revenues for the last month amounted to 610.2 billion Turkish liras (nearly USD30.9 billion), while its expenditures reached an amount of 440.4 billion liras (close to USD22.3 billion). Interest payments accounted for 96 billion Turkish liras (around USD4.9 billion) throughout the same time span.

    Apart from interest payments, the cash balance demonstrated a surplus of 256.8 billion liras (about USD13.4 billion), indicating a positive economic position for the Turkish Treasury.

    The average exchange rate for the Turkish lira in contradiction with the US dollar in May stood at 19.7869.

    MENAFN08062023000045014228ID1106410393

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