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    June budget gap widens

    Bloomberg
    10.07.2009 - 00:00 | Son Güncelleme:

    ANKARA - Turkey’s budget deficit widened in June, according to preliminary data from the Treasury.

    The budget gap expanded to 2.5 billion Turkish Liras ($1.6 billion) from 1.5 billion liras in the same month last year, the Treasury in Ankara announced in an e-mailed statement Thursday. Excluding interest payments on debt, the budget produced a deficit of 1.5 billion liras, compared with a deficit of 1.6 billion liras a year earlier.

    The government says a wider budget deficit this year is inevitable as it increases spending to preserve jobs in the face of an economic slowdown that’s eating into tax revenue.
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