​​​​​​​Turkey announces a large fiscal deficit

The Turkish Ministry of Finance said, that the country's budget deficit recorded 43.2 billion lire in April, up 135.8 percent year-on-year.

The data revealed that the initial account, which excludes interest payments, showed a deficit of 26.2 billion lire in April.

Turkey's budget recorded a deficit of 18.3 billion lire in April last year.

Turkey's economy is facing a recession that will be its second in less than two years due to the Coved-19 pandemic, after emerging from its first recession in the second half of 2019.

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