Record budget deficit in December: 1.37 trillion TL in 2023
The Ministry of Treasury and Finance has released the central government budget statistics for December. According to the published statistics, the budget deficit in 2023 reached 1.37 trillion TL. This has been recorded as the highest budget deficit in the history of the Republic of Türkiye.
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The Ministry of Treasury and Finance has released the central government budget statistics for December.
According to the published data, Türkiye faced a budget deficit of 1.37 trillion TL in 2023. In December alone, the budget deficit was recorded at 842 billion TL.
As stated in the Medium-Term Program (MTP), the central government budget balance was projected to have a deficit of 1 trillion 633 billion TL in 2023.
The MTP also estimated that the budget deficit in 2023 would be 6.4 percent of the Gross Domestic Product (GDP).
The central government budget balance had a deficit of 142.7 billion TL in 2022, and the ratio of the budget deficit to GDP was recorded at 1 percent.