Turkey Budget Balance Shifts to Surplus

2026-03-16 08:10 By Kyrie Dichosa 1 min. read

Turkey’s central government budget recorded a surplus of TRY 24.4 billion in February 2026, shifting from a deficit of TRY 310.1 billion in the same month a year earlier.

Budget revenues surged 87.1% year-on-year to TRY 1.35 trillion, supported by a 91.8% jump in tax collections to TRY 1.12 trillion, reflecting strong gains in corporate income tax, income tax, import VAT, and special consumption tax receipts.

Meanwhile, total expenditures rose 28.6% to TRY 1.33 trillion, driven by higher personnel spending, current transfers, and goods and services purchases.

Non-interest expenditures increased 28.2% to TRY 1.15 trillion, while interest payments climbed 31.5% to TRY 183.7 billion, highlighting rising debt-servicing costs.

Despite the increase in spending, the primary balance posted a surplus of TRY 208.1 billion, reversing the TRY 170.4 billion deficit recorded a year earlier, supported by robust revenue growth.



News Stream
Turkey Budget Balance Shifts to Surplus
Turkey’s central government budget recorded a surplus of TRY 24.4 billion in February 2026, shifting from a deficit of TRY 310.1 billion in the same month a year earlier. Budget revenues surged 87.1% year-on-year to TRY 1.35 trillion, supported by a 91.8% jump in tax collections to TRY 1.12 trillion, reflecting strong gains in corporate income tax, income tax, import VAT, and special consumption tax receipts. Meanwhile, total expenditures rose 28.6% to TRY 1.33 trillion, driven by higher personnel spending, current transfers, and goods and services purchases. Non-interest expenditures increased 28.2% to TRY 1.15 trillion, while interest payments climbed 31.5% to TRY 183.7 billion, highlighting rising debt-servicing costs. Despite the increase in spending, the primary balance posted a surplus of TRY 208.1 billion, reversing the TRY 170.4 billion deficit recorded a year earlier, supported by robust revenue growth.
2026-03-16
Turkey Budget Deficit Widens in January
Turkey’s central government budget deficit widened to TRY 214.5 billion in January 2026, compared with a deficit of TRY 139.3 billion in the same month a year earlier. Budget revenues increased 55.0% year-on-year to TRY 1.42 trillion, supported by a 49.0% rise in tax collections to TRY 1.18 trillion, driven by stronger income tax, domestic VAT, and special consumption tax receipts. Meanwhile, total expenditures rose 54.9% to TRY 1.64 trillion, reflecting broad-based spending increases. Non-interest expenditures rose 32.0% to TRY 1.18 trillion, while interest payments jumped sharply by 180.0% to TRY 456.4 billion, highlighting the growing burden of debt servicing. Despite higher spending, the primary balance recorded a surplus of TRY 241.9 billion, widening significantly from TRY 23.8 billion a year earlier, supported by robust revenue performance at the start of the year.
2026-02-16
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.
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