Budget posts 528.1 billion TL deficit in December

The Ministry of Treasury and Finance has announced the Central Government Budget Developments for December 2025. Accordingly, in December, central government budget expenditures were 1 trillion 792 billion TL, budget revenues were 1 trillion 263.9 billion TL, and the budget deficit was 528.1 billion TL. Additionally, non-interest budget expenditures amounted to 1 trillion 675.4 billion TL, and the non-interest deficit was 411.5 billion TL.

BUDGET BALANCE

While the central government budget posted a deficit of 830 billion 847 million TL in December 2024, it posted a deficit of 528 billion 139 million TL in December 2025. A non-interest deficit of 755 billion 594 million TL was recorded in December 2024, compared to a non-interest deficit of 411 billion 468 million TL in December 2025.

BUDGET EXPENDITURES

Central government budget expenditures as of December totaled 1 trillion 792 billion 33 million TL. Interest payments amounted to 116 billion 672 million TL, while non-interest expenditures were 1 trillion 675 billion 361 million TL.

Out of the 14 trillion 731 billion 14 million TL appropriation foreseen for central government budget expenditures in 2025, 1 trillion 792 billion 33 million TL in expenditures were realized in December. In the same month of the previous year, expenditures totaled 1 trillion 710 billion 393 million TL.

December budget expenditures increased by 4.8 percent compared to the same month of the previous year. The realization rate of expenditures against budget appropriations was 12.2 percent in 2025, compared to 15.4 percent in 2024.

Non-interest budget expenditures increased by 2.5 percent compared to the same month of the previous year, reaching 1 trillion 675 billion 361 million TL.

The realization rate of non-interest expenditures against budget appropriations was 13.1 percent in 2025, compared to 16.6 percent in 2024. The chart below shows the comparison of December budget expenditures based on economic classification compared to the previous year.

BUDGET REVENUES

Central government budget revenues as of December totaled 1 trillion 263 billion 894 million TL. Tax revenues were 1 trillion 47 billion 466 million TL, and general budget non-tax revenues were 184 billion 217 million TL.

While budget revenues were 879 billion 546 million TL in December 2024, they increased by 43.7 percent in the same month of 2025 to reach 1 trillion 263 billion 894 million TL. According to the budget forecast, the realization rate of budget revenues for December was 9.9 percent in 2025, compared to 10.4 percent in 2024.

Tax revenue collection in December 2025 increased by 47.9 percent compared to the same month of the previous year, reaching 1 trillion 47 billion 466 million TL. The realization rate of tax revenues against the budget forecast was 9.4 percent in 2025, compared to 9.6 percent in 2024.

In the January-December 2025 period, central government budget expenditures were 14 trillion 634.6 billion TL, budget revenues were 12 trillion 835.5 billion TL, and the budget deficit was 1 trillion 799.1 billion TL. Additionally, non-interest budget expenditures were 12 trillion 580.2 billion TL, and a non-interest surplus of 255.3 billion TL was recorded.

BUDGET BALANCE

While the central government budget posted a deficit of 2 trillion 107 billion 782 million TL in the January-December 2024 period, it posted a deficit of 1 trillion 799 billion 130 million TL in the January-December 2025 period. A non-interest deficit of 837 billion 327 million TL was recorded in the January-December 2024 period, while a non-interest surplus of 255 billion 252 million TL was recorded in the January-December 2025 period.

BUDGET EXPENDITURES

Central government budget expenditures as of the January-December period totaled 14 trillion 634 billion 607 million TL. Interest payments were 2 trillion 54 billion 382 million TL, and non-interest expenditures were 12 trillion 580 billion 225 million TL.

In the January-December 2025 period, central government budget expenditures increased by 35.7 percent compared to the same period of the previous year, reaching 14 trillion 634 billion 607 million TL.

Non-interest budget expenditures increased by 32.3 percent compared to the same period of the previous year, reaching 12 trillion 580 billion 225 million TL.

BUDGET REVENUES

Central government budget revenues as of the January-December period totaled 12 trillion 835 billion 477 million TL. Tax revenues were 11 trillion 49 billion 467 million TL, and general budget non-tax revenues were 1 trillion 446 billion 607 million TL.

While budget revenues were 8 trillion 672 billion 832 million TL in the January-December 2024 period, they increased by 48 percent in the same period of 2025, reaching 12 trillion 835 billion 477 million TL.

Tax revenue collection for the January-December 2025 period increased by 51.3 percent compared to the same period of the previous year, reaching 11 trillion 49 billion 467 million TL.

News Source: İHA