In February, for the second consecutive month, the general government’s budget balance in Turkey recorded a surplus, mainly due to the payment of a dividend by the country’s central bank, which exceeded the cost of importing natural gas into the country.
In particular, the general government recorded a budget surplus of 69.7 billion Turkish lira ($ 4.71 billion) in February, compared to 23.2 billion pounds in the same month of 2021.
The central bank of Turkey, according to Bloomberg, distributed a dividend of 49.3 billion pounds from its profits and reserves in the previous month. The payment exceeded what the country consumed for gas imports. Boru Hatlari ile Petrol Tasima, the national gas import company known as Botas, received 18 18 billion from the government in the form of loans and grants in February.
The government had transferred a total of 59 59 billion to Botas in December. No such payments were made in January 2022.
The state budget revenues increased by 126% on an annual basis, to 270.6 billion pounds, an increase that adjusted for inflation is actually 54.4%.
Tax revenues increased by 83.2% to 180.3 billion pounds, compared to 98.4 billion pounds in the same month of 2021.
Expenditures increased on an annual basis, excluding interest payments, by 87.9%, to 7 157.1 billion, while expenditures for interest payments jumped by 242.3%, to ,7 43.7 billion.
The Turkish Ministry of Finance thus recorded a surplus of 55.5 billion pounds.
Source: Capital
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