Türkiye registers $6.4B budget deficit in May

Türkiye's central government budget posted a deficit of TL 298.2 billion ($6.44 billion) in May, official data showed on Monday.

Budget revenues fell 18% year-over-year to almost TL 1.1 trillion, while expenditures rose 27% to nearly TL 1.4 trillion, according to the Treasury and Finance Ministry.

The primary balance, which excludes interest payments, posted a deficit of TL 169.3 billion in May, compared with a surplus of TL 346.4 billion in the same month last year.

Interest expenditures increased 16% from a year earlier to TL 128.9 billion, while non-interest expenditures rose 28.3% to TL 1.25 trillion.

Tax revenues declined 22.1% in May from a year earlier to TL 931.5 billion.