Turkish Treasury runs $26.8B cash deficit in 2023

The Turkish Treasury’s cash balance saw a deficit of 625.5 billion Turkish liras ($26.8 billion) in 2023, according to official figures released on Monday.

The figure was 168.4 billion liras ($10.2 billion) in 2022, the Treasury and Finance Ministry data showed.

Cash revenues of the Treasury totaled 5.3 trillion liras ($228.4 billion), while its expenditures reached nearly 6 trillion liras ($255.6 billion).

Its interest payments were 564.9 billion liras ($24.2 billion) last year.


Excluding interest payments, the cash balance posted a deficit of 71 billion liras ($3.1 million) in 2023.

The Treasury last year received 10.5 billion Turkish liras ($189 million) in privatization or fund income – including transfers by the Turkish Privatization Administration, 4.5G license payments, and land sale revenues.

The Turkish lira traded for 23.311 per US dollar on average in 2023, while the dollar/lira exchange rate stood at 29.1012 on average in December.

In December, the Treasury’s cash deficit came in at 197 billion liras ($6.8 billion), with its revenues standing at 546.7 billion liras ($18.8 billion) and expenditures reaching 749.2 billion liras ($25.7 billion).


by Anatolian News Agency


Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and www.paraanaliz.com and has contributed to the financial daily Referans and the liberal daily Radikal.