Tax & Spend
Turkey’s Budget Swings to Record Surplus as Fiscal Policy Shifts
This article is for subscribers only.
Turkey posted its biggest monthly budget surplus on record as the government shifts to repairing public finances to complement monetary policies geared toward bringing down inflation.
The central budget balance recorded a 219 billion-lira surplus ($6.7 billion) in May, the most in data that stretches back to 2006. It was a sharp swing from five straight months in deficit, figures published by the Treasury and Finance Ministry showed on Thursday.