Turkish budget deficit narrows 73 percent

Turkey’s budget deficit narrowed 73 percent to 1.87 billion liras in February as the economy recovered from a military coup in July 2016.

The deficit declined from 6.84 billion liras in the same month a year ago, the Finance Ministry said on its website on Thursday.

The budget, excluding interest payments on debt, posted a surplus of 4.79 billion liras in the month compared with a deficit of 1.75 billion liras in February 2017.

Turkey raised government spending early last year, providing tax breaks and other measures, to help stimulate an economy rocking from the after effects of the military coup.