Turkey runs a budget surplus of 3.1 bln liras

Finance Minister Mehmet Simsek has announced yesterday that Turkey ran a budget surplus of TL 3.1 billion in the first half of this year. Progress in incomes and decrease in interest rate costs contributed to this budget performance. Simsek said it should be perceived as a success for the country that had been battling with the recession in Europe, which is its largest export market. Speaking at a press conference organized on the budget realization for the January-June period, Simsek told reporters in Ankara that Turkey's budget revenues surged by 10.7 percent between January and June over a year ago, while tax revenues enjoyed a 20.7 percent increase in this period. The country's primary surplus reached TL 26.4 billion in the first half. He said the first figures showed that they would easily reach the government's year-end budget target totaling TL 34 billion. "The government is in full control of economic developments in Turkey and it has taken all the necessary steps to mitigate structural weaknesses," Simsek said.