The Turkish government’s budget balance registered a TL 23.2 billion ($3.3 billion) surplus this February, after posting a deficit in the last two months, official figures revealed on Monday.

The Treasury and Finance Ministry data showed that the reading bettered from a deficit of TL 7.36 billion in February 2020.

The balance posted a TL 24.2 billion deficit in January.

The data Monday showed the budget revenues reached TL 119.6 billion last month, a 39% rise on an annual basis.

The expenditures amounted to TL 96.4 billion, up 3% year-on-year.

The data showed that the balance excluding interest payments posted a surplus of TL 35.9 billion in February.

Tax revenues totaled TL 98.4 billion, while interest payments came in at TL 12.8 billion in the same period.

The budget balance posted a TL 172.7 billion deficit in 2020, below the target of TL 239.2 billion that was projected in the new economic program, announced last September, according to the data.

Revenues last year reached over TL 1 trillion, while expenditures hit TL 1.2 trillion.

In January-February, the budget balance saw a deficit of TL 984 million, while it posted a surplus of TL 14 billion a year earlier.

Budget revenues totaled TL 209.2 billion in the first two months and expenditures hit 210.2 billion.

The budget balance, excluding interest payments, saw a surplus of TL 33.7 billion.