Turkish Treasury posts 1st cash surplus in 6 months

ANKARA

The Turkish Treasury’s cash balance posted a surplus in May following five consecutive months of deficit, according to official data released on Wednesday.

Treasury’s cash surplus amounted to 169.8 billion Turkish liras ($8.6 billion) last month, the Treasury and Finance Ministry data showed.

Cash revenues of the Treasury stood at 610.2 billion Turkish liras ($30.9 billion), while its expenditures totaled 440.4 billion liras ($22.3 billion).

Its interest payments came in at 96 billion Turkish liras ($4.9 billion) last month.

Excluding interest payments, the cash balance saw a surplus of 256.8 billion liras ($13.4 billion).

The Turkish lira was traded for 19.7869 per US dollar on average in May.