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Türkiye’s central government posted a ₺980.5 billion ($24.36 billion) budget deficit in the first half of 2025, driven largely by a sharp rise in interest payments of 93.5%, the Treasury and Finance Ministry announced on Wednesday.
From January to June, total budget revenues surged by 46.1% compared to the same period last year, reaching ₺5.6 trillion, while expenditures, however, grew at a slightly slower pace, up 43.7% to ₺6.6 trillion.
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One of the main contributors to the budget gap was interest payments. In June alone, interest expenditures jumped 177.7% year-over-year to ₺275.7 billion. Over the January–June period, they rose 93.5% to ₺1.1 trillion.
Excluding interest payments, non-interest expenditures totaled ₺5.47 trillion in the first half of the year, up 36.5% from the same period in 2024. These accounted for 42.8% of the total appropriations set under the 2025 budget law.
Primary expenditures—excluding interest payments—stood at ₺5.47 trillion in the first half, up 36.5% year-over-year. This figure represented 42.8% of the annual allocation set in the 2025 budget.
Türkiye collected ₺764.9 billion in tax revenue in June, marking a 58.3% increase from the same month in 2024. The monthly realization rate rose slightly to 6.9%, compared to 6.5% last year.
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