Turkiye records over $5B budget deficit in one month

Shafaq News/ Turkiye recorded a budget deficit of 186.27 billion lira ($5.41 billion) in October, the Turkish Ministry of Treasury and Finance said on Friday.

The deficit for the first ten months of 2024 reached 1.26 trillion lira. The primary deficit, excluding interest payments, stood at 50.05 billion lira in October and 211.38 billion lira from January to October.

In early November, Turkish Trade Minister Omer Bolat stated that “the country's trade deficit fell by 13% year-on-year in October to $5.7 billion.”

Bolat added that exports rose by 3.6% to $23.6 billion, while imports decreased by 0.2% to $29.4 billion. "We broke the record for the highest October exports in the history of our republic," he remarked.

The minister also noted that Turkiye's export value increased from $209.7 billion to $216.4 billion in the first ten months of 2024.