ISTANBUL, April 17 Reuters Turkey39;s central government budget recorded a deficit of 47.22 billion lira 2.46 billion in March, the Finance Ministry said on Monday, while the cumulative deficit for 2023 so far widened to 250 billion lira, mainly due to devastating earthquakes.

The primary balance, which excludes interest payments, logged a deficit of 2.15 billion lira in March, it said, bringing the total in the first three months to 149.37 billion lira.

The budget deficit widened sharply after the earthquakes struck southern Turkey in February at a time when President Tayyip Erdogan was already facing major economic challenges.

In February, the central government39;s budget deficit stood at 170.56 billion lira and the cumulative figure for the first two months of the year was 202.8 billion lira.

Soaring inflation, which stood at 50.5 in March, has eaten away at household savings and also at Erdogan39;s popularity, while the quakes have added to the difficulties he faces in seeking reelection in landmark polls set for May 14.

The government implemented bumper measures to minimize the earthquakes39; impact on the economy, such as delaying debt payments and offering wages and support money to quake victims which have also widened the budget deficit.

Economists reckon government spending on rebuilding and aid efforts could lift the ratio of budget deficit to GDP to above 5 this year, up from Ankara39;s forecast last September of 3.5. It stood at around 1 in 2022,…