Turkey: Deficit versus surplus due to increased spending in June

Turkey’s central government budget ran a deficit in June due to increased spending on current transfers and staff salaries.

The government ran a deficit of 31.1 billion pounds ($1.8 billion) in June, according to Treasury figures.

In May it had posted a record surplus of £144bn, mainly due to rising tax revenues.

Spending rose 87% to £212.1 billion in June from the same month last year.

Wage spending rose 58.6% to £42.5bn over the same period, while current transfers, which include financial assistance to households, more than doubled to £107bn.

Revenue rose 105% to £181bn, with tax revenues contributing £152.6bn.

In the January-June period, the surplus amounted to 94 billion pounds.

Source: Capital

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