Türkiye’s budget deficit crisis: Official data reveals 100% increase in 1 year

Türkiye’s central government budget posted a ₺310.1 billion ($8.4 billion) deficit in February, skyrocketing by 101.6% compared to the same month of the previous year, according to official data released on Monday.

According to Türkiye’s Treasury and Finance Ministry, February’s figure widened from a ₺139.2 billion ($3.79 billion) deficit in January as budget revenues hit ₺723.4 billion ($19.7 billion), while expenditures totaled at ₺1 trillion ($28.1 billion) with a 49.8% rise.

Thus, 7% of the allocated ₺14.73 trillion ($401.54 billion) central government budget expenditures projected for 2025 has been utilized.

Türkiye’s budget deficit widens in 2025

Non-interest expenditures reached ₺893.8 billion ($24.3 billion), with interest payments totaling ₺139.6 billion ($3.8 billion). The report showed that tax revenues came in at ₺584.9 billion ($15.9 billion).

In the first two months of 2025, the budget balance showed a deficit of ₺463.9 billion ($12.6 billion). During this period, budget revenues reached ₺1.25 trillion ($34.3 billion), while expenditures amounted to ₺1.72 trillion ($46.8 billion).

The U.S. dollar traded at an average of ₺36.16 in February and ₺35.84 on average during the January-February period.