No cash left in the treasury

The domestic borrowing target of 308 billion TL projected by the Ministry of Treasury and Finance for the first quarter of 2025 faced a significant deviation in realization. A total of 908 billion TL was borrowed in just the first three months. This represents a realization approximately 200 percent above the projected figure.

Evaluating the issue, Economic Policy Research Foundation of Turkey (TEPAV) Center Director Prof. Dr. Hakkı Hakan Yılmaz pointed out in his statement to SÖZCÜ TV that this level of borrowing is a serious warning signal for the economy.

HISTORIC DROP IN CENTRAL BANK DEPOSITS

Prof. Dr. Yılmaz stated that the amount of deposits held by the Treasury at the Central Bank of the Republic of Turkey (TCMB) has fallen to just 27 billion TL. Pointing to the analytical balance sheet data dated April 25, Yılmaz reminded that this amount was around 200 billion TL in the same period last year.

Emphasizing that there has been no period in the last 20 years where the deposits held by the Treasury at the Central Bank have fallen to such a low level, Yılmaz said, "What does this mean? It means there is no money left in the bank. The Treasury has only one account and it makes all resource transfers through this account."

THE COFFERS ARE EMPTY

Yılmaz noted that despite the current picture, public spending continues, but the Treasury has almost no cash left on hand. 

News Source: 12punto