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Turkiye still in a deficit in the second half of 2022

August 15, 2022 at 2:57 pm

Turkish lira banknotes [OZAN KOSE/AFP via Getty Images]

Turkiye’s budget is still in a deficit for the second term of this year, data from the Treasury and Finance Ministry shows, Bloomberg reports.

According to the report, the government ran a monthly fiscal deficit of 64 billion liras ($3.56 billion) in July.

Report says expenditures also increased 85 per cent to 261 billion liras in July from the same month a year earlier.

Turkiye’s economic crisis gets worse as its foreign trade deficit has reached a monthly average of $8 billion this year, report added.

The economic crisis also affects the current government positive image. According to a local survey conducted in July by ASAL Research and Consulting, Turkish Finance Minister, Nureddin Nebati, who has been at the helm of the country’s economy since December 2021, is the least successful Minister among all members of the cabinet.

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