Budget deficit announced 2.7 billion TL, only 8.2 percent of annual goal

Turkey's Ministry of Finance announced monthly budget review data on Monday, the budget deficit was announced as 2.7 billion TL for the period between January – August 2014, while primary surplus reached 30.9 billion TL.

According to the Ministry, the budget gave a deficit of 5.3 billion TL in July and 5.9 billion TL surplus in August.

Primary non-interest deficit was announced as 877 million TL in July. Primary surplus realized as 8.7 billion TL in August.

Budget revenues increased 19.1 percent as of August 2014 reaching 38 billion, while budget expenditures decreased 8,6 percent and realized as 32 billion TL.

Budget revenues for the eight month period of 2014 increased 8.9 percent to 283.2 billion TL while budget expenditures also increased 10.1 percent to 285,9 billion TL.

Finance Minister Mehmet Şimşek gave a written statement explaining that budget realization numbers are in cohesion with year-end budget goals, as current deficit is only 8.2 percent 33.3 billion TL deficit goal.