Turkish Treasury posts $9.4 billion cash deficit for 2014
According to provisional cash balance figures, the Treasury's cash revenues were 413.23 billion Turkish lira ($178 billion), while its expenditures, including interest payments were 445 billion lira ($191.8 billion).
billion the Treasury received from a privatization and funds income.
The Treasury borrows money by selling securities like treasury bills, notes, bonds and savings bonds to to investors.
There was a high level of interest expense of 48.2 billion Turkish lira ($21 billion) that pushed up the deficit, the Treasury said. The Treasury received 10 billion lira ($4.3 billion) from a privatization and funds income during the last year. ■