Turkish Treasury ends 6-month cash drought with May surplus
Treasury's cash balance registers surplus of $7.3B in May, following 5 consecutive months of deficits (AA Photo)
Official data released on Friday by the Turkish Treasury and Finance Ministry revealed a notable milestone: a surplus in the Treasury’s cash balance for the first time since November 2023.
According to the data, the Treasury’s cash surplus soared to ₺234.8 billion ($7.3 billion) last month. Cash revenues for the Treasury stood impressively at ₺1 trillion ($31.7 billion), while expenditures totaled ₺787.5 billion ($24.4 billion).
Interest payments, however, amounted to ₺102.8 billion ($3.2 billion) for the same period, casting a shadow on an otherwise positive balance sheet.
Excluding interest payments, the cash balance reflected an even more robust surplus, reaching ₺337.5 billion ($10.5 billion).
In May, the Turkish lira maintained an average exchange rate of 32.2269 per US dollar.
Zooming out to the broader picture, from January to May, the Treasury faced a cash deficit of ₺572.8 billion ($18.2 billion), with revenues hitting ₺3.4 trillion ($150.5 billion) and expenditures reaching ₺3.9 trillion ($124.8 billion).
The average USD/TRY exchange rate over the initial five months of the year hovered around 31.4584.
