Turkish budget deficit ($ 4.9 milliard) during March

The Turkish Finance Minister said that the Turkish budget recorded a deficit of 20.2 milliard lire ($ 4.9 Milliard) in March, bringing the deficit of the first quarter of this year to 20.4 Milliard lire.

Turkish budget deficit ($ 4.9 milliard) during March
17 April, 2018   11:27

NEWS DESK

The Turkish Finance Minister Naji Iqbal said that the March budget showed a preliminary deficit of 10.6 Milliard lire, resulting in a quarterly surplus of 1.9 milliard lire.

In a related context, the Moody’s credit rating agency said that chronic weakness in the Turkish currency will have a negative impact on the classification of sovereign debt and economic problems, citing the high degree of external exposure and low foreign exchange reserves.

Moody's said in a report on the credit outlook that the Turkish lire is exposed to renewing pressure if the authorities postponed the implementation of the movement commitments to counter the weakness of the pound by raising the interest rates.

A.H

ANHA