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Turkish central government budget deficit widens to $7.4B in April

Photo shows Turkish lira in a bill counter, accessed on May 15, 2026. (Adobe Stock Photo)
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Photo shows Turkish lira in a bill counter, accessed on May 15, 2026. (Adobe Stock Photo)
May 15, 2026 12:50 PM GMT+03:00

Türkiye’s central government budget posted a deficit of ₺338.7 billion ($7.4 billion) in April as expenditures rose faster than revenues, official data showed on Friday.

According to the data released by the Treasury and Finance Ministry, budget revenues increased 23.9% year-on-year to $25.9 billion in April, while expenditures climbed 34.7% to $33.3 billion.

In the January-April period, the central government budget recorded a cumulative deficit of $16.66 billion.

Budget revenues rose 54.3% from the same period last year to $113.9 billion in the first four months of 2026, while expenditures increased 40% to $130.6 billion.

Primary balance turns negative

The primary balance, which excludes interest payments, posted a deficit of $1.78 billion in April, compared with a surplus of $1.88 billion in the same month last year.

Non-interest expenditures increased 45.4% year-on-year to $27.9 billion in April, while interest expenditures declined 1.2% to $5.6 billion.

Tax revenues rose 28.5% annually to $22.2 billion during the month.

In the January-April period, tax revenues increased 55.6% year-on-year to $95.9 billion.

Interest expenditures surged 56.5% in the first four months of the year to $24.8 billion, while non-interest expenditures rose 36.6% to $105.8 billion.

May 15, 2026 12:51 PM GMT+03:00
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