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Türkiye’s central government posted a budget deficit of ₺1.8 trillion ($45.5 billion) for 2025, while registering a primary surplus, excluding interest payments, of ₺255.3 billion, the first such surplus since 2022.
In December, Türkiye’s central government recorded a budget deficit of ₺528.1 billion, while the primary balance, excluding interest payments, showed a deficit of ₺411.5 billion.
The figure came in below the government’s projection in the 2026–2028 Medium-Term Program (MTP), which had forecast a ₺2.2 trillion deficit and a deficit-to-GDP ratio of 3.6% for the end of 2025.
Central government budget expenditures rose by 35.7% year-on-year to ₺14.63 trillion. Interest payments accounted for ₺2.05 trillion of this total, reflecting a sharp increase of 61.7% from the previous year.
Excluding interest payments, expenditures reached ₺12.58 trillion, a 32.3% annual rise. Budget revenues climbed 48% from the previous year to ₺12.83 trillion in 2025.
As a result, 100.3% of the annual revenue projection was met, while 99.3% of the planned expenditure ceiling was used, the figures showed.
Central government budget expenditures for December rose 4.8% year-on-year to ₺1.79 trillion, with primary expenditures increasing by 2.5% from December 2024 to ₺1.68 trillion. Revenues surged 43.7% in the same month, reaching ₺1.26 trillion.
Tax revenues rose by 51.3% year-over-year to ₺11.05 trillion in the January–December 2025 period, constituting 86.1% of total revenues and reaching 99.2% of the annual target. Value-added taxes (VAT) on goods and services accounted for ₺4.28 trillion, followed by income taxes at ₺4.03 trillion and special consumption taxes (SCT) at ₺2.02 trillion.
Revenue from interest income, fines, and revenue shares increased by approximately 36.3% to ₺1.08 trillion.
Personnel expenditures for the year grew 36.3% to ₺3.63 trillion. Spending on goods and services procurement increased by 43.2%, totaling ₺1.07 trillion.
In December 2025, personnel expenditures rose by 35.4% year-over-year to ₺235.55 billion. Spending on goods and services procurement increased by 35.7% in the same month, reaching ₺204.58 billion. Tax revenue collection climbed 47.9% from a year earlier to ₺1.05 trillion.
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