Turkiye's budget deficit narrows to $3.9 bn in Jan 2025

19 Feb '25

1 min read

Turkiye's budget deficit narrows to $3.9 bn in Jan 2025

Pic: Adobe Stock

Insights

The Turkish government's budget recorded a deficit of 139.3 billion liras ($3.9 billion) in January this year—7.6 per cent lower YoY, finance ministry data show.
In January, budget revenues surged by 48.6 per cent YoY to more than 917 billion liras, with tax collection rising by 53.3 per cent YoY to 793 billion liras.
Expenditures amounted to 1.06 trillion liras in the month—a 37.6-per cent YoY rise.

The Turkish government’s budget recorded a deficit of 139.3 billion liras ($3.9 billion) in January this year—7.6 per cent lower year on year (YoY), finance ministry data show.

In January, budget revenues surged by 48.6 per cent YoY to more than 917 billion liras, with tax collection rising by 53.3 per cent YoY to 793 billion liras.

Expenditures amounted to 1.06 trillion liras in the month—a 37.6-per cent YoY increase.

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 last year.

The budget deficit target this year is 1.93 trillion liras, which is 3.1 per cent of the expected GDP in 2025.

The government estimates the budget deficit will shrink to 2.8 per cent of national income, or 2.1 trillion liras, next year.

Fibre2Fashion News Desk (DS)

More Textiles News - Turkiye...