Türkiye reports budget deficit of $8.5B

Turkish lira banknotes are seen in an exchange office, in Ankara, Türkiye, June 13, 2022. (Reuters Photo)

Turkish lira banknotes are seen in an exchange office, in Ankara, Türkiye, June 13, 2022. (Reuters Photo)

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.