Türkiye reports budget deficit of $8.5B

Türkiye’s central government budget balance recorded a dramatic shift in June, with a deficit of ₺275.3 billion ($8.5 billion), according to official data released Tuesday by the Treasury and Finance Ministry. This follows a ₺219.4 billion surplus in May.

Revenue and expenditure breakdown

• Budget revenues: ₺591.2 billion
• Budget expenditures: ₺866.5 billion
• Non-interest expenditures: ₺767.2 billion
• Interest payments: ₺99.3 billion

Excluding interest payments, the budget balance saw a deficit of ₺176 billion. Tax revenues for the month totaled ₺483.1 billion.

First half of year figures

In the first half of 2024, Türkiye’s budget deficit reached ₺747.2 billion. During this period, the budget revenues totaled ₺3.8 trillion, while the expenditures amounted to ₺4.6 trillion.

Exchange Rates

• June average exchange rate: $1 = ₺32.5430
• January-June average exchange rate: $1 = ₺31.6252