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 6.0​ Public Sector 6.1​ Budget
        The central bank will transfer a total TRY50-55bn to the Treasury throughout 2020. Early profit transfer was executed in January, resulting in a budget surplus in the month. Total transfers from the central bank amounted to TRY90bn in 2019.
Budget deficit leapt 70% y/y to TRY123.7bn, about 2.9% of forecasted GDP, in 2019 as the government cranked up spending in the face of a recession.
Cash budget ran a deficit of Turkish lira (TRY) 130.5bn (€19.9bn) in 2019 versus a TRY70.35bn shortfall in 2018.
In the government’s new economic programme, released in September 2019, officials forecast a budget deficit of TRY125bn for 2019.
The deficit target for 2020 is TRY139bn, or 2.9% of GDP, excluding additional transfers from the central bank.
Haluk Burumcekci of Burumcekci Consulting, said in January that 2019 revenues had been boosted by central bank profits, transfers from legal reserves, one-off contributions and tax restructurings. For 2020, he said, “the [deficit] target of 2.9% does not look realistic without additional measures”.
 6.2 ​Debt
   TURKEY -DEBT (eop)
     2013
   2014
   2015
   2016
 2017
     2018
  2019
   Budget: gross debt (LC bn)
      586
    613
    678
    760
 876
      1,067
   1,329
 Budget: gross debt (% GDP)
  32.4
    30.0
   29.0
   29.1
  28.2
   28.8
   31.1
  28​ TURKEY Country Report​ March 2020 ​ ​www.intellinews.com
 

































































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