Budget ran 2.1 trillion Turkish Liras deficit last year

Budget ran 2.1 trillion Turkish Liras deficit last year

ANKARA
Budget ran 2.1 trillion Turkish Liras deficit last year

The central government budget produced a deficit of 2.1 trillion Turkish Liras ($59.1 billion) last year, up from 1.38 trillion liras of deficit in 2023, the Treasury and Finance Ministry has said.

Haberin Devamı

Initially, the government had projected a deficit of 2.65 trillion liras for 2024.

Revenues increased by 66.5 percent last year from 2023 to 8.67 trillion liras with tax collection rising more than 62 percent to 7.3 trillion liras.

Expenditures amounted to 10.8 trillion liras, up 63.6 percent, data from the ministry showed on Jan. 15.

Interest expenditures surged 88.3 percent to 1.27 trillion liras, while non-interest expenditures increased by 61 percent to 9.5 trillion liras.

Consequently, the budget ran a primary deficit of 836 billion liras last year, down 18.4 percent compared to 2023.

In December alone, the budget deficit widened 2.2 percent year-on-year to 829.2 billion liras.

Last month, revenues increased 60.4 percent to 708 billion liras, while expenditures rose by 22.3 percent to 1.7 trillion liras.

The primary deficit was 754 billion liras in December, down from the deficit of 806 billion in the same month of the previous year.

Türkiye, Economy,