2nd Update: Turkey May Budget Surplus Try5.8 Bıllıon
Turkey posted a budget surplus of 5.812 billion Turkish lira ($3.70 billion) in May, the Turkish finance ministry said Tuesday.
Turkish Finance Minister Mehmet Simsek said Tuesday that the May budget surplus stemmed mainly from rising revenues.
The Turkish government targets a TRY50 billion budget deficit for 2010. In 2009, the budget gap was TRY52.2 billion.
The primary budget surplus, which excludes interest payments on outstanding debt, was TRY7.977 billion in May, the ministry said.
In the comparable month a year ago, the country posted an overall budget deficit of TRY610 milliona primary budget surplus of TRY4.381 billion.
In the January-May period, the overall budget deficit was TRY9.984 billion, compared with a TRY20.683 billion deficit in the year-earlier period, the ministry said.
Turkey posted a primary budget surplus of TRY14.233 billion during the same period, compared with a surplus of TRY5.436 billion in the corresponding period last year, it added.