The consolidated government budget showed a primary surplus of TL 1.28 quadrillion in August, sending the year-to-date cumulative primary surplus to TL 4.96 quadrillion ($=653.133 TL Official Rate), according to provisional figures revealed by the Treasury.
The cash deficit in the first eight months, however, stood at TL 10.79 quadrillion. Revenues amounted to TL 19.55 quadrillion and non-interest expenditures to TL 14.58 quadrillion. Interest payments (TL 15.74 quadrillion) plus the windfall gains tax amounted to TL 17.22
quadrillion over the same period.
Domestic and external debt servicing totaled TL 32.76 quadrillion (TL34.23 quadrillion including Windfall gains tax). The Treasury borrowed TL 19.19 quadrillion from the domestic market (plus a TL 2.9 quadrillion borrowing at average auction rates and TL 102.7 trillion of optional
borrowing).
In August alone, the cash deficit was TL 1.45 trillion, according to provisional data. Interest payments (TL 2.72 quadrillion) plus the windfall gains tax amounted to TL 3.04 quadrillion. Revenues amounted to TL 3.43 quadrillion and non-interest expenditures to TL 2.16
quadrillion.
July-August revenues thus added up to TL 5.86 quadrillion, non-interest expenditures to TL 4.17 quadrillion, and primary surplus to TL 1.69 quadrillion. The two months' cash deficit was seen at TL 2.13 quadrillion after interest payments of TL 4.27 quadrillion (including
windfall gains tax).
In the third quarter of the year, the Treasury plans to collect revenues of TL 8.2 quadrillion. Non-interest expenditure is expected to amount to TL 6.8 quadrillion, resulting in a primary surplus of TL 1.4 quadrillion. Interest payments including interest tax are programmed to reach TL 4.5
quadrillion (TL 4.0 quadrillion when excluded) and cash deficit at TL 2.7 quadrillion. — (Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)
