Turkey Records Largest Budget Surplus Ever

  • Istanbul, Republic of Turkey
  • 24 June 2024
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Turkey posted its largest monthly budget surplus ever as the government shifted to fiscal reform in parallel with inflation-lowered monetary policies.

The surplus in May was $6.7 billion, the largest surplus in data dating back to 2006, and comes five consecutive months after a budget deficit.

The Turkish government is tightening fiscal policy through spending cuts as well as a wide range of new schemes such as a minimum corporate tax. The government expects the deficit to hit 6.4 percent of GDP this year.

Source (Al-Arabiya.net Wesite, Edited)

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