Central government budget revenues were 48.2 billion liras and expenditures were 68.4 billion liras in March; the budget deficit was 20.2 billion liras. January-March budget deficit was realized as 20.4 billion liras. 9.6 billion liras in the month of March from the budget; In January-March period, 22.3 billion liras was paid. Finance Minister Naci Ağbal said that the opening was in line with the "budget deficit target".
The Ministry of Finance announced budget implementation results for March 2018 and January-March 2018.
Accordingly, budget revenues in March increased by 23.4 percent compared to the same month of the previous year and reached 48.2 billion liras, while budget expenditures increased by 16.8 percent to 68.4 billion liras.
In the January-March period, budget revenues increased by 15.7 percent compared to the same period of the previous year and reached 167.4 billion liras, while budget expenditures rose by 17.7 per cent to 187.9 billion liras.
Thus, the central government budget was 20.2 billion liras in March and 20.4 billion liras in January-March period.
22.3 BILLION TL FOR INTERESTS IN 3 MONTHS
Last year, 68 billion 439 million TL was spent from the appropriation for the central government budget expenditures of the year 2016, totaling 762 billion 753 million TL. In the same month last year, this figure was 58 billion 571 million TL.
In March, interest expenses increased by 34.1 percent compared to the same month last year, and recorded as 9 billion 588 million pounds. January-March period interest expenses increased by 18.3 percent compared to the same period of last year, reaching 22 billion 277 million liras.
Finance Minister Naci Agbal, in his written statement, assessed budget realizations for the period of March 2018. According to the restructuring laws, income reached 1.7 billion TL in March and 4 billion TL from the beginning of the year, he said. Thus, we anticipate the configuration target for 2018 exceeding the revenue target in 3 months."
"We will continue to implement fiscal discipline resolutely in the coming months and continue to demonstrate that we will remain within the OVP objectives and achieve the year-end budget target," Agbal said, noting that the expenses in the first quarter of the year were realized within budget allocations.