Turkey - Government Budget Balance

For Turkey, both the General and Central government budget datasets show the financing data of the cash balance resulting from budget transactions as well as net changes in deferred payment and advance payment accounts of the general budget institutions.

According to the Public Financial Management and Control Law No 5018, the central government budget (CGB) covers general budget institutions (list I), special budget agencies (list II), and regulatory and supervisory institutions (list III). General budget covers institutions that are listed under list I of the Public Financial Management and Control Law No 5018.

• Framework: IMF GFSM 2014
• Measurement: Thousands of Turkish new lira (Ths. TRY)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequency: Monthly
• Start dates:
  • 2004m1 for central
  • 2006m1 for general

• General budget cash balance is computed from budget transactions, as well as net changes in deferred payment and advance payment accounts of list I institutions. A positive general budget cash balance indicates a cash surplus, while a negative value stands for a cash deficit.
• Central government budget cash balance is computed from budget transactions as well as net changes in deferred payment and advance payment accounts of the central government institutions. A positive CGB cash balance indicates a cash surplus, while a negative value stands for a cash deficit.
• Net foreign borrowing: Computed as the difference between foreign borrowing (program loans, project loans, and bond issues) and amortization of principal by the Treasury.
• Net domestic borrowing: Computed as the difference between domestic borrowing (TL Denominated T-Bills, TL Denominated G-Bonds and FX Denominated G-Bonds) and amortization of principal by the Treasury.
• Net lending: Computed as the difference between lending and principal repayment. A positive net lending value affects total financing negatively.
  • Lending: Lending data consists of loans extended by the Treasury to the institutions not part of the general budget (Privatization Administration, The Scientific and Technological Research Council of Turkey local governments, SEEs, etc.). It also includes on-lending issues.
  • Repayment: Principal repayments from loans extended to the institutions stated above are shown under this heading.
• Privatization receipts: Transfers from the Privatization Authority to the Treasury, as indicated by the Law Concerning Arrangements for the Implementation of Privatization No 4046 clause 10, are shown under this heading. Since 2008, privatization receipts are shown under general budget according to the annual budget law (eg. 2012 Central Government Budget Law No 6260, article 28). If the budget law does not have any clause related to this matter, privatization receipts are shown under financing.
• SDIF revenue surplus: Transfers from the Savings Deposit and Insurance Fund to the Treasury, as indicated by the Law on Regulating Public Finance and Debt Management No 4749 provisional clause 17, are shown under this heading.
• Currency/deposit and other transactions: Changes in cash and deposits of general government institutions (net of currency valuation) are shown under this heading. A negative figure indicates an increase in cash and deposits, while a positive figure indicates a decrease in cash and deposits. This heading also includes net errors and omissions that stem from discrepancies between revenue/expense accounts and financial accounts.

Moody's Analytics supplements

For headline finances of general and central government we compute seasonally adjusted (SAAR) supplements.

Further reading

At IMF (SDDS):

• General government operations
• Central government operations