Türkiye ran $59B budget deficit in 2023: Official data

By Tuba Ongun

Türkiye's central government budget ran a deficit of 1.37 trillion liras ($59 billion) in 2023, according to data released Monday.

The figure worsened from a deficit of 142.7 billion liras ($8.6 billion) in 2022, the Treasury and Finance Ministry data showed.

Budget revenues amounted to 5.2 trillion liras ($223.5 billion), while expenditures totaled 6.6 trillion liras ($282.5 billion) last year.

Non-interest expenditures stood at 5.9 trillion liras ($253.6 billion), while interest payments came in at 674.6 billion liras ($28.9 billion).

Excluding interest payments, the budget balance posted a 700.4 billion liras ($30 billion) deficit, while tax revenues reached 4.5 trillion liras ($193.1 billion).

In December 2023, the budget balance posted a deficit of 842.5 billion liras ($28.9 billion) following a 75.6 billion liras ($2.6 billion) surplus in November.

Budget revenues totaled 449.9 billion liras ($18.9 billion) in December, while expenditures were 1.4 trillion liras ($47.8 billion).

A US dollar traded for 29.1012 liras on average in December 2023, and 23.3111 liras last year.