Turkish Minute

Turkey posts $2.53 billion budget deficit in May: report

A teller holds Turkish lira banknotes at a currency exchange office in Istanbul on August 13, 2018. Turkey's troubled lira tumbled on August 13 to fresh record lows against the euro and dollar, piling pressure on stock markets on fears the country's crisis could spill over into the world economy. / AFP PHOTO / Yasin AKGUL

Turkey’s central government budget posted a deficit of 17.3 billion lira ($2.53 billion) in May, data from the Finance Ministry showed on Monday, according to Reuters.

The primary balance, which excludes interest payments, recorded a deficit of 7.64 billion lira in May, the data also showed.

The budget deficit stood at 90.1 billion lira in the first five months of the year. In September the government forecast a budget deficit of 138.9 billion lira for 2020.

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