Türkiye posts $59.1B budget deficit in 2024

Türkiye posts $59.1B budget deficit in 2024

Central government budget revenues hit $244.2B, while expenditures stood at $303.6B, according to official data

By Mucahithan Avcioglu

ISTANBUL (AA) - Türkiye's central government budget posted a 2.1 trillion Turkish liras ($59.1B) budget deficit in 2024, according to data released by the Treasury and Finance Ministry on Wednesday.

Budget revenues reached 8.67 trillion Turkish liras ($244.2B), while expenditures totaled 10.8 trillion liras ($303.6B) in 2024.

Last year's deficit rose 52.6% compared to 2023's figure.

Non-interest expenditures reached 9.5 trillion liras ($267.7 billion), with interest payments totaling 1.27 trillion liras ($35.8 billion).

The report showed that tax revenues came in at 7.3 trillion liras ($205.7 billion).


- Monthly figures

In December, the country posted a monthly budget deficit of 829.2 billion Turkish liras ($23.3 billion).

December's figures significantly rose from 16.7 billion liras ($483.8 million) deficit in November, the report showed.

On a monthly basis, budget revenues reached 877.6 billion liras ($24.7 billion), while expenditures totaled 1.7 trillion liras ($47.9 billion) in December.

The US dollar traded at an average of 34.9657 liras in December and 32.8415 liras on average during the January-December period.

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