Treasury deficit quadrupled 

2023-05-10 14:42:03


	 

	NEWS CENTER - Treasury's cash deficit quadrupled compared to last year. The Central Bank intervened in the market with a sale of 49 billion dollars in the last month.

	 

	The fluctuation in the currency continues before the 14 May elections, when the Presidential and General Elections will be held. Economists comment that the dollar, which rose to 19.52 levels yesterday, will explode after the election.

	 

	TREASURY DEFICIT INCREASED TO 417 BILLION

	 

	While the activity in the dollar and euro continued, the cash deficit of the Treasury quadrupled in the first 4 months of the year compared to the previous year. According to the "Treasury cash realizations" data of the Ministry of Treasury and Finance for April 2023, the cash deficit was 159.1 billion liras and the primary cash deficit was 132.1 billion liras. Accordingly, in the last 4 months before the election, the Treasury ran a cash deficit of 417 billion TL in total.

	 

	INTERVENTION OF THE CENTRAL BANK

	 

	Trying to suppress the exchange rate, the Central Bank accelerated its foreign exchange sales. According to data shared by Bloomberg economists, the Central Bank intervened in the market with sales of $177 billion from December 2021 to April 2023. The bank intervened in the market with its sales of $ 49 billion in the last month.