Turkish budget records 64bn lira deficit in July

ANKARA: The Turkish government’s central budget recorded a deficit of 64 billion lira ($3.56 billion) in July, data from the Finance Ministry showed on Monday, while the primary deficit stood at 47.3 billion lira.

Budget payments for a scheme that makes up for lira depositors’ losses against hard currencies (KKM), introduced in December to stem the lira’s decline, stood at 23.4 billion lira in July.

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In the first seven months of the year, the budget recorded a 29.5 billion lira surplus, for a primary surplus of 180.9 billion lira.

KKM payments stood at 60.6 billion lira in that period.