Finance Ministry claimed that Turkish government ran a budget deficit of 19.5 billion Turkish Liras ($5.32 billion) in March and 14.9 billion liras ($3.7 billion) in the first quarter.
On the other hand, it is widely believed that the deficit mainly occured due to to temporary measures and tax cuts to boost the economy.
The Ministry also explained that Turkish government revenues in the first three months stood at 144.7 billion liras ($39.5 billion), marking a 9.9 percent rise year-on-year, while budget expenditures were 159.7 billion liras ($43.6 billion), with an increase of 21.3 percent compared with the same period last year.
Furthermore, in the first three months of the year, the budget gave a 3.9 billion lira ($1.09 billion) surplus when interest rate payments were excluded according to the ministry’s budget directorate general.
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