Türkiye’s treasury posts 2.1 trillion lira cash deficit in 2024

Türkiye’s Treasury ended 2024 with a cash deficit of 2.1 trillion Turkish liras ($63.7 billion), according to data released by the Treasury and Finance Ministry on Wednesday.

The deficit reflected the gap between cash revenues of 8.9 trillion liras ($270.5 billion) and expenditures, which totaled 11 trillion liras ($334.6 billion).

Revenue from privatization and fund income amounted to 12.2 billion liras ($373 million) last year, while interest payments reached 1.2 trillion liras ($35.8 billion). Excluding interest payments, the cash balance showed a narrower deficit of 929.2 billion liras ($28.3 billion).

The Turkish lira traded at an average of 32.8271 per US dollar throughout 2024, highlighting the continued depreciation of the currency over the year.

In December alone, the Treasury reported a cash deficit of 323.9 billion liras ($9.3 billion). Monthly revenues were 882.7 billion liras ($25.3 billion), while expenditures reached 1.2 trillion liras ($34.6 billion). The average exchange rate for the month was 34.9637 liras per dollar.