Turkish govt runs $3.677 bln budget deficit in Oct

Turkish government ran a budget deficit of $3.677 billion in October.

Turkish govt runs $3.677 bln budget deficit in Oct

Turkish government ran a $3.677 billion budget deficit in October.

Turkish Central Bank announced Wednesday that the central government budget ran a $3.677 billion deficit in October 2010 marking a $4.002 billion year-on-year rise.

The foreign trade deficit rose 281.8% year-on-year in October and reached $5.009 billion, thus pushing up the budget deficit.

The current accounts deficit in the first 10 months of 2010 reached $35.723 billion.

According to Balance of Payment (BOP) figures for the first ten months of 2010, "Travel" revenues declined 3.4% year on-year down to $18.069 billion while "travel" revenues rose 17.6% and reached $3.887 billion. Net tourism revenues in the mean term, dropped 7.9% year-on-year down to $14.182 billion.

Income account consisting of wages of employees and investments revenues declined 7% year-on-year down to $6.461 billion in the first ten months of 2010. The main sub-items under investment income account, namely direct investment, portfolio investments and interest expenses recorded a net outflow of $2.266 billion, $500 million and $3.591 billion respectively in January-October 2010.

The "Net Capital" inflow in the mean term rose nearly six folds and reached $34.427 billion. The "Net Investments" under the "Foreign Direct Investments-FDI" declined 17.9% down to $5.88 billion.

The "Net Capital" inflow under the FDI item declined 25.8% year-on-year down to $4.59.


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Last Mod: 13 Aralık 2010, 14:17
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