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Turkey Posts Budget Deficit of TRY151bln in January

TURKEY
  • Turkey posted a budget deficit of TRY 150.7bln in January, according to Treasury and Finance Ministry data. Budget expenditures were TRY 768bln while revenues were TRY 617.2b liras. Tax income rose by 105% y/y to TRY 517.2bln.
  • Speaking at a press conference yesterday, Foreign Ministry Spokesman Oncu Keceli told reporters, “We expect that the completion of [the processes for] Sweden’s membership [to NATO] and [the congressional approval of] F-16s will introduce a new window of opportunity as the two allied countries [US and Turkey] better understand each other on the basis of mutual respect and interests.” However, Keceli recalled that there are still serious bilateral problems, especially in the field of fighting terrorism.
  • An Ekonomi columnist writes that Turkey’s approval of Sweden’s NATO bid, negotiations with the US over the purchase of F-16s and new obstacles for Russian companies in the Turkish banking system all played a part in Russian President Valdimir Putin postponing his planned trip to Turkey. Putin was scheduled to visit Turkey on Feb 12, but his trip was postponed supposedly due to the proximity of the upcoming elections in Russia.
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