Turkish Treasury posts $160M cash surplus in July

By Muhammed Ali Gurtas

ANKARA (AA) – The Turkish Treasury's cash balance recorded a surplus of 754 million Turkish liras (nearly $160 million) in July, the Ministry of Treasury and Finance announced on Tuesday.

Last month, the Treasury's cash revenues totaled 59.1 billion Turkish liras ($12.41 billion), up around 19 percent year-on-year, while expenditures — including interest payments of 5.8 billion Turkish liras ($1.22 billion) — rose 17 percent to 58.8 billion Turkish liras ($12.36 billion).

In July, the Treasury's non-interest expenditures amounted to 53.04 billion Turkish liras ($11.14 billion) — a 6.04-billion-lira ($1.27 billion) surplus in the primary balance.

The Treasury collected 528 million Turkish liras ($111 million) worth of revenue from privatization or fund income — including transfers by the Turkish Privatization Administration, 4.5G license payments, land sale revenues — in July.

The cash balance, which represents the Treasury's cash revenues plus privatization and fund income minus expenditures, including interest payments, saw a surplus on a monthly basis for the first time this year.

The average U.S. dollar/Turkish lira exchange rate was 4.76 last month.

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