The budget balance of the Turkish government registered a surplus of nearly TL 70 billion ($5.1 billion) in February, according to data from the Treasury and Finance Ministry on Tuesday.

February's reading was three-fold compared to the same month of last year, the data showed.

Turkey's budget revenues more than doubled, up 126% year-over-year to TL 270.6 billion ($20 billion) this February.

The budget expenditures reached TL 200.8 billion in February, also jumping 108% from a year ago.

Excluding interest payments, the budget balance saw a surplus of TL 113.4 billion last month.

Tax revenues reached TL 180.3 billion and interest payments were TL 43.7 billion in the same period.

The average United States dollar-Turkish lira exchange rate in February was around 13.62, while 1 dollar traded for 13.57 Turkish liras on average in the first two months of 2022.

Cumulative figure

In the January-February period, the budget balance ran a surplus of nearly TL 100 billion, versus a deficit of TL 984 million in the same period of last year.

Budget revenues totaled TL 446.6 billion in the first two months of 2022, while expenditures stood at TL 346.8 billion.

The budget balance, excluding interest payments, saw a surplus of TL 157.7 billion in January-February.