According to a report released by the Finance Ministry on Monday covering budget deficit figures for the month of October along with the January-October period, the state spent TL 21.43 billion in October 2009, while its revenues amounted to TL 19.1 billion. Budget expenditures soared by 41.2 percent and revenue climbed by 25.8 percent in October of this year compared to same month of last year. The budget deficit in October approached TL 2.42 billion, while it was TL 71 million in the same month a year before.
Interest expenditures reached TL 4.73 billion in October, increasing by 135 percent over October 2008. Turkey’s primary surplus climbed to TL 2.31 billion in October 2009, rising by 19 percent compared to the same month last year.
During the January-October period of this year, expenditures amounted to TL 218.6 billion, while budget revenue neared TL 175.37 billion. The budget deficit in the first 10 months of 2008 was TL 4.89 billion, while the same period this year has seen a TL 43.23 billion deficit in the budget, a 784.7 percent increase in the budget deficit over the same period last year. Interest expenditures in the first 10 months of this year totaled TL 50.24 billion, increasing by 15.9 percent over the same period of last year. The primary surplus totaled TL 7.12 billion in the same period.
The report indicates that the budget revenue in the first 10 months of this year contracted by 0.2 percent compared to the same period of the preceding year, while spending increased by 21 percent over the same period. The tax revenue of the state also declined by some 0.2 percent in the same period, and just 68.9 percent of total anticipated tax revenue was collected in the first 10 months of this year. During this period, the total amount of tax collected decreased by 0.8 percent compared to same period of last year.
