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Minister: Turkey cuts budget deficit by 86 percent

Business Materials 16 April 2013 18:15 (UTC +04:00)
In the first quarter of 2013, Turkey's state budget revenues grew by 21.6 percent compared to the same period last year and amounted to 94.1 billion lire, whereas expenses grew by 13.3 percent to 95 billion lire, Anadolu agency quoted Turkey's Finance Minister Mehmet Shimshek on Monday.
Minister: Turkey cuts budget deficit by 86 percent

Azerbaijan, Baku, 15 April / Trend, R. Hafizoglu /

In the first quarter of 2013, Turkey's state budget revenues grew by 21.6 percent compared to the same period last year and amounted to 94.1 billion lire, whereas expenses grew by 13.3 percent to 95 billion lire, Anadolu agency quoted Turkey's Finance Minister Mehmet Shimshek on Monday.

The budget deficit over the year fell by 86 percent to 897 million lire.

"Tax revenues increased by 20 percent compared to the same period last year, reaching 77.4 billion lire," the Minister said.

During the reporting period, the state budget expenditure on interest payments fell by 12.6 percent to 15.1 billion lire.

"Turkey's greatest achievement over last 10 years is reducing the burden on the state budget for percentage maintenance due to higher financial discipline," the Minister said.

According to Shimshek, the Turkish government implements economic reforms, what gives grounds to say the state budget will grow even more.

Shimshek also said the year 2013 will be successful for the country's budget.

The official exchange rate on April 15 is 1.7883 TRY / USD

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