Budget posts 139 billion Turkish Liras of deficit
ANKARA
The central government budget posted a deficit of 139.3 billion Turkish Liras in January, data from the Finance Ministry showed on Feb. 17.
Last month’s deficit was 7.6 percent lower compared to January 2024, when the budget ran a deficit of 150.7 billion liras.
In January, budget revenues surged 48.6 percent year-on-year to more than 917 billion liras, with tax collection rising 53.3 percent from a year ago to hit 793 billion liras.
Expenditures amounted to 1.06 trillion liras, marking a 37.6 percent increase compared to January last year.
Interest expenditures rose 34.6 percent annually to 163 billion liras, while non-interest expenditures were up 38.1 percent to 893 billion liras.
Consequently, the central government budget produced a primary surplus of 23.8 billion liras in January, against a primary deficit of 29.6 billion liras in the same month of last year.
The government targets a budget deficit of 1.93 trillion liras, which corresponds to 3.1 percent of the expected GDP in 2025.
According to the government estimates, the budget deficit will shrink to 2.8 percent of national income, or 2.1 trillion liras, next year.
