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)
