Global Analysis from the European Perspective. Preparing for the world of tomorrow

Turkey Plugs Bleeding Budget With Large Central Bank Transfer

The Turkish government plugged its deteriorating finances in July with an outsized cash infusion from the central bank. The monetary authority transferred around 22 billion liras ($3.94 billion) to the Treasury last month, according to data on its website. Without the disbursement, the government would have posted a budget deficit of about 12 billion liras, instead of a 9.9 billion lira surplus. Source Bloomberg

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