The budget balance of the Turkish central government saw a surplus of TL 30.8 billion ($2.2 billion) in the first quarter, according to data from the Treasury and Finance Ministry on Friday.

The surplus increased by around 50% compared to the same period last year.

Turkey's budget revenues jumped by 75% year-on-year to TL 602.5 billion last quarter.

The budget expenditures reached TL 571.7 billion in the three-month period, also soaring 78% year-on-year.

Excluding interest payments, the budget balance saw a surplus of TL 115.65 billion last quarter.

Tax revenues reached TL 455.1 billion and interest payments were TL 84.8 billion in the same period.

The average U.S. dollar/Turkish lira exchange rate in the first quarter was around 13.95, while $1 traded for TL 14.59 on average in March.

In March, the budget balance saw a deficit of TL 68.9 billion versus a surplus of TL 23.7 billion in the same month of last year.

The average U.S. dollar/Turkish lira exchange rate in March 2021 was 7.64.

Budget revenues totaled TL 155.9 billion in the first two months of this year, while expenditures stood at TL 224.9 billion.

The budget balance, excluding interest payments, saw a deficit of TL 42 billion in March.