Turkey’s Budget Swings to Deficit That Reaches Biggest This Year

Turkey’s central government budget swung to a deficit in September on the back of increased spending and lower corporate tax revenues.

The government ran a monthly fiscal deficit of 78.6 billion liras ($4.2 billion) last month, its biggest shortfall this year, data from the Treasury and Finance Ministry showed on Monday. In August, the budget was in a surplus of 3.6 billion liras thanks to a surge in tax revenue.

Other Highlights

• Government revenues were 206.9 billion liras in September, dropping from the previous month but rising 8.1% from the same period last year
• Spending excluding interest payments was ...