Central government budget ran a deficit in July

Following the surplus in June, the central government budget posted a deficit of 378.1 billion TL in July. The total deficit for the first seven months of the year reached 1 trillion 320.9 billion liras.

July Budget Balance

According to data released by the Ministry of Treasury and Finance, the central government budget ran a deficit in July. In July, budget expenditures stood at 1 trillion 790.5 billion TL, while revenues amounted to 1 trillion 412.4 billion TL. Consequently, the budget posted a deficit of 378.1 billion TL in July.

January-July Period Results

During the first seven months of the year, central government budget expenditures reached 10 trillion 520.7 billion TL. In the same period, budget revenues were recorded at 9 trillion 199.7 billion TL, resulting in a budget deficit of 1 trillion 320.9 billion TL. The primary surplus was calculated at 470.1 billion TL.

Developments in Expenditure Items

In July, personnel expenses increased by 43.3 percent compared to the same month of the previous year, reaching 461 billion 568 million liras. State premium expenditures for social security institutions rose by 48.2 percent to 55 billion 698 million liras. Current transfers increased by 57.2 percent to 611 billion 450 million liras.

Interest and Tax Revenues

In July, interest expenditures rose by 142.8 percent compared to the same month of the previous year, totaling 326 billion 764 million liras. Tax revenue collections within budget revenues increased by 30 percent, reaching 1 trillion 234 billion 842 million liras.