Turkey's Şimşek says budget on track with annual targets
Turkey's Treasury and Finance Minister Mehmet Şimşek said the budget performance was running in line with annual targets. He said the primary balance improved by 536 billion lira in the first four months of the year compared with the same period a year earlier. The minister stressed that targets were being met despite earthquake outlays and social-support payments.
Turkey's Treasury and Finance Minister Mehmet Şimşek said the January-April budget figures confirmed that fiscal performance remained on track to meet annual targets. He said the primary balance improved by 536 billion lira in the first four months of the year compared with the same period a year earlier.
Mr Şimşek emphasised that spending targets were being met despite continued reconstruction outlays for the 2023 earthquake zone and ongoing social-support payments. He noted that tax revenues had grown faster than inflation, adding that measures against the informal economy were beginning to bear fruit.
The minister said the government would maintain its tight fiscal stance through the rest of the year, with spending discipline continuing until year-end. He added that the central bank's anti-inflation policies were being conducted in close coordination with fiscal policy, stressing that reaching price stability remained critical for the country's medium-term growth outlook.
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