Budget posts deficit in October as well
In October, 569.2 billion TL in expenditures were recorded against 473.8 billion TL in revenue. The budget posted a deficit of 95.5 billion TL. In the January-October period, the central government budget deficit reached 608.1 billion TL.
12punto
The central government budget posted a deficit of 95 billion 461 million TL in October, following a 129.2 billion lira deficit in September. A non-interest deficit of 28 billion 651 million TL was recorded last month.
According to data released by the Ministry of Treasury and Finance, budget expenditures increased by 85.2 percent on an annual basis in October to 569 billion 211 million TL, while budget revenues rose by 111.3 percent to 473 billion 750 million TL.
Out of the 5 trillion 589 billion 85 million TL appropriation foreseen for central government budget expenditures in 2023, 569 billion 211 million TL in expenditures were realized in October. In the same month of the previous year, 307 billion 416 million TL was spent.
Budget expenditures excluding interest increased by 104 percent compared to the same month of the previous year, reaching 502 billion 401 million TL.
TAX REVENUE COLLECTION INCREASED BY 125 PERCENT
Tax revenues were recorded at 409 billion 427 million TL, while general budget non-tax revenues were 54 billion 293 million TL.
According to budget estimates, the realization rate of budget revenues for October was 9.6 percent in 2023, compared to 8.8 percent in 2022.
Tax revenue collection increased by 125.2 percent compared to the same month of the previous year, reaching 409 billion 427 million TL. The realization rate of tax revenues according to budget estimates was 9.6 percent in 2023, compared to 8.3 percent in 2022.
10-MONTH DEFICIT IS 608 BILLION LIRA
The budget posted a deficit of 608 billion 63 million TL in the January-October period. A non-interest deficit of 70 billion 389 million TL was recorded in the January-October 2023 period.
While 10-month budget expenditures were realized at 4 trillion 521 billion 796 million TL, 3 trillion 913 billion 733 million TL in budget revenue was generated in the same period, representing a 77.9 percent increase. Tax revenues were 3 trillion 391 billion 461 million TL, and general budget non-tax revenues were 437 billion 410 million TL.