Record budget deficit

The central government budget deficit, which was TL 32.2 billion in January, rose to TL 170.6 billion due to the decline in tax revenues in February, when the earthquake disaster occurred. This was the highest monthly deficit recorded in data dating back to 2006. The Ministry of Treasury and Finance announced the budget implementation results for February. Accordingly, budget revenues decreased by 19.1 percent compared to the same month of the previous year, falling to TL 218 billion 828 million, while budget expenditures increased by 93.9 percent, reaching TL 389 billion 388 million. In the January-February period, budget revenues increased by 13.7 percent compared to the same period of the previous year, reaching TL 507 billion 906 million, while budget expenditures increased by 104.9 percent, reaching TL 710 billion 709 million. Tax revenues decreased to 179.6 billion lira Thus, the central government budget had a deficit of 170 billion 560 million lira in February and 202 billion 802 million lira in the January-February period. The non-interest deficit increased from 10.9 billion lira to 136.3 billion lira. Tax revenues decreased from 252.8 billion lira to 179.6 billion lira. The direct cost of KKM to the budget was 632 million lira in February. Its total cost increased to 94.7 billion lira.