Posted by meb at February 11th, 2009

The Turkish government’s budget deficit for January 2009 rose a staggering 465.8 pct to 2.96 billion TL ($1.81billion) compared to the same month of 2008, while the primary surplus fell 78.3 percent to 816 million TL ($499 billion) in the same term, according to figures released by the Finance Ministry on Wednesday.

Budget spending totaled 18.7 billion TL ($11.4 billion) in this period, while the budgetary income was 15.8 billion TL ($9.6 billion), the ministry said.

The Turkish government’s budget deficit in 2008 remained 5.2 percent below target at 17 billion TL ($10.2 billion), while the primary surplus also registered 4.1 percent below its target, according to the latest figures.

According to the data, the primary surplus, an important indicator of budget performance, reached 33.6 billion TL ($20.2 billion) in 2008, falling short of the target of 38 billion TL ($22.9 billion).
source: Hurriyet daily news

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