Turkey’s central government budget balance posted a deficit of 56.7 billion Turkish Liras ($12.35 billion) from January to September with a 79.4 percent year-on-year increase, the Treasury and Finance Ministry announced on Oct. 15.

The country’s budget revenues totaled 546.8 billion liras ($119 billion) in the first nine months of this year, up nearly 20 percent year-on-year, data showed.

During the same period, budget expenditures rose 23.6 percent to 603.5 billion liras ($131.5 billion)—marking a 56.7 billion lira ($12.35 billion) deficit.

More: Turkey’s budget sees $12.3 billion deficit in first nine months: Ministry