Türkiye's central government budget registered a deficit of TL 275.3 billion ($8.3 billion) in June, official data showed on Tuesday.

The balance swung from May's largest monthly budget surplus on record as the government shifted its focus to strengthening public finances alongside tight monetary policies aimed at curbing inflation.

The surplus of TL 219 billion in May came after five consecutive months of shortfall.

Budget revenues in June totaled TL 591.2 billion, while expenditures amounted to TL 866.5 billion, the Treasury and Finance Ministry said Tuesday.

Non-interest expenditures reached TL 767.2 billion, and interest payments totaled TL 99.3 billion, the data showed.

Excluding interest payments, the budget balance saw a deficit of TL 176 billion, whereas tax revenues totaled TL 483.1 billion.

From January through June, the budget balance ran a deficit of TL 747.2 billion, the ministry said.

Revenues reached TL 3.8 trillion, while spending amounted to TL 4.6 trillion.

The Turkish government is moving toward stricter fiscal policies, having recently announced major spending cuts and plans for an array of measures, such as a minimum corporate tax on companies.

On Tuesday, the ruling Justice and Development Party (AK Party) submitted to Parliament a package of new tax regulations to increase tax efficiency and justice and reduce informality.

The nation's budget has been considerably plagued by a sharp increase in spending after devastating earthquakes struck the southeastern region in February last year.

That fueled a budget deficit of about $45.5 billion in 2023 or 5.2% of gross domestic product (GDP).

The annual shortfall is projected to be TL 2.7 trillion, or 6.4% of GDP, according to the government's estimates.