Turkey’s central government budget deficit narrowed to TRY 528.1 billion in December 2025, down from TRY 830.8 billion in the same month a year earlier. Budget revenues rose 43.7% year-on-year to TRY 1.26 trillion, driven by a 47.9% increase in tax collections to TRY 1.05 trillion, supported by higher income tax, domestic VAT, special consumption tax, and banking and insurance transaction tax receipts. Meanwhile, total expenditures increased 4.8% to TRY 1.79 trillion, fueled by a 2.5% rise in non-interest spending to TRY 1.68 trillion and a 55% jump in interest payments to TRY 116.7 billion. Spending growth was broad-based, with personnel costs, current transfers, and capital expenditures all higher than in December 2024. The primary deficit narrowed to TRY 411.5 billion from TRY 755.6 billion a year earlier, reflecting improved revenue performance and controlled non-interest spending. source: Undersecretariat of Treasury, Turkey

Turkey recorded a government budget deficit of 528.10 TRY Billion in December of 2025. Government Budget Value in Turkey averaged -16.87 TRY Billion from 1994 until 2025, reaching an all time high of 235.20 TRY Billion in May of 2025 and a record low of -842.53 TRY Billion in December of 2023. This page provides - Turkey Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news. Turkey Central Government Budget Balance - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-15 08:00 AM
Budget Balance
Nov TRY169.49B TRY-223.2B
2026-01-15 08:00 AM
Budget Balance
Dec TRY-528.14B TRY169.49B
2026-02-16 08:00 AM
Budget Balance
Jan TRY-528.14B


Related Last Previous Unit Reference
Fiscal Expenditure 1792.03 1250.10 TRY Billion Dec 2025
Government Budget -4.90 -5.20 percent of GDP Dec 2024
Budget Balance -528.10 169.50 TRY Billion Dec 2025
Central Government Debt 13656000.00 13325000.00 TRY Million Dec 2025
Government Debt to GDP 24.70 29.30 percent of GDP Dec 2024
Government Revenues 1263.89 1419.59 TRY Billion Dec 2025
Treasury Cash Balance -333150.00 56197.00 TRY Million Dec 2025


Turkey Central Government Budget Balance
The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.
Actual Previous Highest Lowest Dates Unit Frequency
-528.10 169.50 235.20 -842.53 1994 - 2025 TRY Billion Monthly
Current Prices, NSA

News Stream
Turkey Budget Deficit Narrows in December
Turkey’s central government budget deficit narrowed to TRY 528.1 billion in December 2025, down from TRY 830.8 billion in the same month a year earlier. Budget revenues rose 43.7% year-on-year to TRY 1.26 trillion, driven by a 47.9% increase in tax collections to TRY 1.05 trillion, supported by higher income tax, domestic VAT, special consumption tax, and banking and insurance transaction tax receipts. Meanwhile, total expenditures increased 4.8% to TRY 1.79 trillion, fueled by a 2.5% rise in non-interest spending to TRY 1.68 trillion and a 55% jump in interest payments to TRY 116.7 billion. Spending growth was broad-based, with personnel costs, current transfers, and capital expenditures all higher than in December 2024. The primary deficit narrowed to TRY 411.5 billion from TRY 755.6 billion a year earlier, reflecting improved revenue performance and controlled non-interest spending.
2026-01-15
Turkey's Budget Shifts to Surplus in November
Turkey’s central government budget posted a TRY 169.5 billion surplus in November 2025, reversing a TRY 16.6 billion deficit recorded in the same month a year earlier. Total budget expenditures increased 30.7% year-on-year to TRY 1.25 trillion, driven by a sharp rise in non-interest spending, which jumped 39.8% to TRY 1.13 trillion, while interest payments declined 19.4% to TRY 117.9 billion. Meanwhile, budget revenues rose 51.1% to TRY 1.42 trillion, supported by a 55.3% increase in tax revenues to TRY 1.27 trillion, led by strong growth in income tax, corporate tax, domestic VAT, and banking and insurance transaction taxes. The primary balance also strengthened, recording a TRY 287.4 billion surplus in November 2025, up from TRY 129.7 billion a year earlier.
2025-12-15
Turkey's Budget Deficit Widens in October
Turkey’s government budget posted a TRY 223.2 billion deficit in October 2025, widening from TRY 186.3 billion in the same month a year earlier. Total budget expenditures rose 43.4% year-on-year to TRY 1.37 trillion, driven by higher non-interest spending (+48%) at TRY 1.21 trillion, while interest payments increased 15.6% to TRY 157.4 billion. Meanwhile, budget revenues grew 49.1% from a year earlier to TRY 1.15 trillion, supported by a 51.6% jump in tax receipts to TRY 976 billion, with strong gains in income tax, domestic VAT, and banking & insurance transaction taxes. The country’s primary balance shifted to a TRY 65.8 billion deficit in October 2025, compared with a TRY 50.1 billion deficit last year.
2025-11-17