Turkey’s Budget Swung to Record Deficit in Month After Elections

Turkey’s central government budget swung to a deficit that was the widest on record, after elections won by President Recep Tayyip Erdogan with the help of costly giveaways that risk contributing to one of the biggest fiscal shortfalls in years.

The deficit in June reached 219.6 billion liras ($8.4 billion), compared with a 118.9 billion-lira surplus the previous month, according to data published by the Treasury and Finance Ministry on Monday. On an annual basis, the gap widened nearly sevenfold.