Turkey’s public budget deficit doubles to 64 billion liras in July

Turkey’s public budget deficit doubled to 64 billion Turkish liras in July, and Turkey’s general budget data showed a deficit of 31 billion liras in June, according to Treasury and Finance Ministry data.

Turkey suffers from a significant rise in the inflation rate, as it recorded 79.6% in July, up from 78.62% recorded last June.

The Turkish government announced an increase in the minimum wage for the second time in 6 months. The Turkish government raised the monthly salary increase for about 40% of the workforce from $254 to $328.