Turkey's treasury posts $2 billion cash surplus for May

Published 05.06.2015 19:49

Turkey's Treasury posted a cash balance surplus of 5.4 billion Turkish liras ($2 billion) for May 2015, official figures revealed Friday.

According to provisional figures released by the Turkish Treasury on Friday, cash revenues for May were 42.6 billion liras ($16 billion), while non-interest expenditures were 33.8 billion liras ($12.6 billion).

The surplus came after an interest payment of 3.5 billion liras ($1.3 billion).

Meanwhile, the Treasury posted a cash balance deficit of 193 million Turkish liras ($72 million) for the 2015 January-May period.

The Treasury's cash revenues for the 2015 January-May period were 194.5 billion Turkish liras ($72.6 billion), while its non-interest expenditures were 169.4billion liras ($63.3 billion). Interest payments stood at 27 billion Turkish liras ($10 billion) in five months.

The cash deficit, or cash surplus, is revenue minus expenses, minus net acquisition of nonfinancial assets. It differs in composition from the fiscal deficit, which includes all revenue and expenses.

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