Macro Indicators   Budget

6/18/2018

TL 2.7 Billion Budget Surplus Reported in May

Budget revenue in May was TL 70 billion with a 21.8 percent increase compared to the same month of the previous year. The non-interest budget expenditures reached TL 67.3 billion with 31.7 percent increase. The budget had reported a TL 20.5 billion deficit January to May

Turkish Central Bank (TCMB) has announced the Central Administration Budget realization for May. According to this data, the budget had a TL 2,707 billion surplus in May. 

While budget revenues increased by 21.8 percent compared to the same month of last year, reaching TL 70,016 billion, budget expenditures also increased by 31.7 percent, totaling at TL 67,309 billion. Non-interest budget expenditures reached TL 61,276 billion with 29.2 percent increase. Thus, the budget had a TL 8,740 billion non-interest surplus in May. Tax revenues also increased by 20.2 percent compared to the same month of the previous year, reaching TL 61,219 billion.

Budget expenditures for May

Non-interest expenditures accounted for TL 61,276 billion of the budget expenditures of TL 67,309 billion in May while interest expenditures accounted for TL 6,033 billion.

The largest expenditure item, Current Transfers, increased by 16.9 percent compared to the same month of the previous year, reaching TL 22,274 billion. Personnel expenditures increased by 31 percent compared to the same month of the previous year, reaching TL 17,444 billion. Capital expenditure was TL 8,270 billion, and TL 2,024 billion of capital transfer was made. Goods and services purchase expenditures accounted for TL 6,948 billion with 47.3 percent increase, and state contribution expenditures to the Social Security Organizations reached TL 2,745 billion with a 29.9 percent increase. 

Budget revenues for May

In May, tax revenues also increased by 20.2 percent compared to the same month of the previous year, reaching TL 61,219 billion. Non-tax revenues also increased by 31.7 percent compared to the same month of the previous year, reaching TL 6,575 billion.

The budget had a TL 20.5 billion deficit January to May

While budget revenues increased by 18.3 percent in January to May 2018, compared to the same month of last year, reaching TL 302,063 billion, budget expenditures increased by 20.9 percent, totaling at TL 322,529 billion. Thus, budget reported a TL 20,467 billion deficit.

While non-interest budget expenditures reached TL 291,112 billion with a 20.8 percent increase, interest expenditures increased by 22.2 percent and reached TL 31,417 billion. The budget reported a non-interest surplus of TL 10,951 billion from January to May 2018.

Tax revenues in this period reached TL 252,071 billion with 20.2 percent increase.