Budget

11/15/2016

The Central Budget Incurred a Deficit of TL 104 Million for October

In the October 2016 term, the Central Budget expenses increased by 18.9% reaching TL 43.5 billion whereas the Budget incomes were 1% lower corresponding to TL 43.4 billion. In October, the Central Budget incurred a Deficit of TL 104 million. For the January-October term, Central Budget deficit reached TL 12.1 billion

Ministry of Finance announced the Central Budget actualisations for the October 2016. Accordingly, in October 2016 the Central Budget expenses increased by 18.9% in comparison with the same month of the previous year reaching TL 43.5 billion whereas the Budget incomes were 1% lower corresponding to TL 43.4 billion. In this term, the Central Budget incurred a Deficit of TL 104 million.

October 2016 Budget Expenses

In October 2016, expenses excluding interests increased by 19.6% to reach TL 40.5 billion whereas the highest increase in the expense items was observed to be 38.8 percent for the capital expenses. Capital expenses increased by 38.8 percent in comparison with the same month of the previous year and reached TL 5.5 billion. Second highest increase, on the other hand, was on current transfers. Current transfers increased by 27 percent in comparison with the same month of the previous year and reached TL 15.3 billion. Personnel expenses increased by 14.8 percent to reach TL 12.2 billion.

Interest expenses increased by 10.2 percent and reached TL 2.9 billion. In October, budget exhibited surplus excluding interests reaching TL 2.8 billion.

October 2016 Budget Incomes

From among the Central Budget incomes in October 2016, Tax Incomes reached TL 36 billion increasing by 2.8 percent. Special Consumption Tax income increase by 24 percent to reach TL 10.8 billion. Income Tax incomes, on the other hand, increased by 9 percent to reach TL 8.9 billion. In addition, Banking and Insurance Transactions Tax incomes increased by 12.8 percent to reach TL 1.1 billion whereas Corporate Tax income increased by 10.5 percent and reached TL 209 million.

Other incomes excluding taxes decreased by 23.6 percent and reached TL 5.5 billion.

January-October 2016 Budget Actualisations

According to the Ministry of Finance data, Central Budget incurred a deficit of TL 12.1 billion during the 10 month period between the February and October 2016. Budget expenses for this term in comparison with the same period of the previous year increased by 13.8 percent and reached TL 460 billion. Budget incomes, on the other hand, increased by 12.5 percent corresponding to TL 447.9 billion. In the same term, Tax Incomes increased by 9.5 percent and reached TL 365 billion whereas Budget Expenses excluding interests increased by 16.4 percent to reach TL 415.4 billion. In this period, a surplus excluding interest was experienced at TL 32 billion.