3/16/2011

Turkey posts budget surplus in January-February

Today’s Zaman - Turkey’s Ministry of Finance has announced a budget surplus of slightly less than TRY 1 billion (USD 630 million) in February. Finance Minister Mehmet Simsek said on Tuesday that for the first time in the last 28 years, there was a surplus in the state budget for the months of January and February.

According to the Finance Ministry's data, the state spent TRY 23.57 billion, or 5.7 percent less year-on-year in the past month, while it received TRY 24.56 billion in revenue, showing a budget surplus of TRY 988 million in February. When looking at the state budget performance for the last two months -- January and February -- the data show that budget expenditures totaled TRY 46 billion, while it took in a revenue of TRY 48 billion, making the two-month surplus TRY 2 billion.

Commenting on the figures, Minister Simsek said that the government is strictly adhering to fiscal discipline and has successfully reduced public expenditures, as can be observed in the budget figures.
Turkey; turkish economy; mehmet simsek; turkish budget; budget surplus; minister of finance