Newsletters
Türkiye’s central government posted a budget deficit of ₺214.5 billion ($4.9 billion) in January 2026, widening by 54.1% from a year earlier, the Treasury and Finance Ministry reported Monday.
Total government spending reached ₺1.64 trillion in January, up 54.9% from ₺1.06 trillion a year earlier, while revenues rose 55% to ₺1.42 trillion from ₺917.1 billion.
The annualized deficit slightly narrowed to ₺1.87 trillion ($42.77 billion).
Interest payments accounted for ₺456.4 billion of total expenditures, while non-interest spending rose 32% year over year to ₺1.18 trillion.
At the same time, the government posted a primary surplus of ₺241.9 billion, up 916.4% from ₺23.8 billion in January 2025.
The government allocated ₺18.98 trillion in total spending authority for 2026, with January expenditures accounting for 8.6% of the annual budget, matching the expenditure realization rate for the month.
Tax revenues remained the main contributor to government income, rising 49% year over year to ₺1.18 trillion, while non-tax revenues totaled ₺208 billion.
Among tax categories, personal income tax revenues increased 71.4% year over year, corporate tax revenues rose 71.5%, and domestic value-added tax (VAT) collections climbed 80.6%.
Tax revenue realization reached 8.5% of the full-year budget target in January, up from 7.1% in the same period of 2025.
Set as preferred source
Set as preferred source
1 min read
1 min read
