In March, the Treasury’s cash revenues amounted to nearly 53.9 billion Turkish liras ($8.15 billion), showing a 21% decline on a yearly basis.
Including interest payments of around 11 billion liras ($1.7 billion), expenditures surged 13% to some 94.4 billion liras ($14.3 billion).
Official figures showed that non-interest expenditures totaled 83.3 billion liras ($12.6 billion), marking a deficit of nearly 29.4 billion liras ($4.4 billion) in the primary balance.
The Treasury received no privatization or fund income in March- including transfers by the Turkish Privatization Administration, 4.5G license payments, and land sale revenues.
The U.S. dollar/Turkish lira exchange rate was around 6.61 at the end of March.
Meanwhile, Turkey’s Treasury borrowed 7.65 billion Turkish liras (some $1.13 billion) from domestic markets on April 7.
Some 6.2 billion Turkish liras (around $915 million) of three-year Turkish lira overnight reference rate (TLREF)-indexed bonds- second issuance – to be settled on April 8 and mature on June 21, 2023 were sold in an auction,
said the Treasury and Finance Ministry.
The total tender was 7.7 billion Turkish liras (some $1.14 billion), with an 80.3% accepted/tendered rate.
The term rate of the 1,169-day Treasury bills was accepted at 2.62%, while the average annual simple and compound interest rates were 10.47% and 10.89%, respectively.
The Treasury also issued lease certificates worth 1.47 billion Turkish liras ($217 million) on April 7.
The certificates will be settled on April 8, while their maturity day is April 2, 2025.
Hurriyet Daily News