Türkiye’s Central Government Budget Posts ₺23.9B Deficit in July

According to the Ministry of Treasury and Finance, Türkiye’s central government budget recorded a ₺23.9 billion deficit in July 2025, with cumulative figures for January–July showing a ₺1.004 trillion shortfall.

In July, budget expenditures reached ₺1.1208 trillion, while revenues totaled ₺1.0969 trillion. Primary expenditures (excluding interest payments) amounted to ₺986.2 billion, producing a primary surplus of ₺110.7 billion for the month.

For the January–July 2025 period, expenditures rose to ₺7.6998 trillion, up 42.4% year-on-year, while revenues stood at ₺6.6955 trillion. The primary surplus for this seven-month span was ₺241.7 billion, compared to a ₺176.9 billion primary deficit in the same period of 2024.

July Performance vs. Previous Year

• Budget expenditures in July 2025 increased 35.4% from a year earlier.

• Interest expenditures totaled ₺134.6 billion, while primary expenditures increased 34.1% to ₺986.2 billion.

• Budget revenues surged 50.1% year-on-year to ₺1.0969 trillion.

• Tax revenues climbed 55.3% to ₺949.8 billion, while non-tax revenues reached ₺122.4 billion.

The ministry highlighted that the budget revenue-to-target realization rate for July was 8.6%, while tax revenue realization reached 8.5%.

This shift from a primary deficit in 2024 to a primary surplus in 2025 indicates tighter fiscal control, despite the headline budget deficit widening compared to the same period last year.