Reported 8 months ago
Turkey recently achieved its largest monthly budget surplus ever, amounting to 219 billion liras in May, a stark contrast to previous months of deficits. This surplus signifies a shift towards repairing public finances to complement monetary policies and tackle inflation. The government is implementing tighter fiscal measures, including spending cuts and new taxation plans, to boost revenue by $7 billion. Despite the improvement, Turkey's budget deficit for this year remains significant, projected at 2.7 trillion liras or 6.4% of GDP.
Source: YAHOO