Budget posts 153.8 billion TL deficit in February

The Ministry of Treasury and Finance has announced the Central Government Budget Developments for February 2024.

Accordingly, the central government budget posted a deficit of 153 billion 798 million TL in February 2024. In the same month of the previous year, the central government budget had posted a deficit of 170 billion 560 million TL.

During this period, while a non-interest deficit of 136 billion 337 million TL was recorded in February 2023, a non-interest deficit of 98 billion 968 million TL was recorded in February 2024.

In February 2024, central government budget expenditures amounted to 689.9 billion TL, and budget revenues were 536.1 billion TL. Furthermore, non-interest budget expenditures were 635.1 billion TL, and the non-interest deficit was 99 billion TL.

Central government budget expenditures as of February amounted to 689 billion 905 million TL. Interest expenditures were 54 billion 830 million TL, while non-interest expenditures were 635 billion 75 million TL.

689.9 BILLION LIRA IN EXPENDITURES

Out of the 11 trillion 89 billion 37 million TL appropriation allocated for central government budget expenditures in 2024, 689 billion 905 million TL in expenditures were realized in February. In the same month of last year, 389 billion 388 million TL was spent.

February budget expenditures increased by 77.2 percent compared to the same month last year. The realization rate of expenditures against budget appropriations was 7 percent in 2023, while it was 6.2 percent in 2024. Non-interest budget expenditures increased by 78.8 percent compared to the same month last year, reaching 635 billion 75 million TL. The realization rate of non-interest expenditures against budget appropriations was 7.2 percent in 2023, while it was 6.5 percent in 2024.

TAX REVENUE FIGURES RELEASED

Central government budget revenues as of February amounted to 536 billion 107 million TL. Tax revenues were 406 billion 291 million TL, and general budget non-tax revenues were 95 billion 279 million TL.

While budget revenues were 218 billion 828 million TL in February 2023, they increased by 145 percent in the same month of 2024 to reach 536 billion 107 million TL. According to budget estimates, the realization rate of budget revenues for February was 4.4 percent in 2023, while it was 6.4 percent in 2024. Tax revenue collection for February 2024 increased by 126.2 percent compared to the same month last year, reaching 406 billion 291 million TL. The realization rate of tax revenues against budget estimates was 4.2 percent in 2023, while it was 5.5 percent in 2024.

NON-INTEREST DEFICIT FIGURES RELEASED

In the January-February 2024 period, central government budget expenditures amounted to 1 trillion 457.9 billion TL, budget revenues were 1 trillion 153.4 billion TL, and the budget deficit was 304.5 billion TL. Furthermore, non-interest budget expenditures were 1 trillion 281.9 billion TL, and the non-interest deficit was 128.6 billion TL.
While the central government budget posted a deficit of 202 billion 802 million TL in the January-February 2023 period, it posted a deficit of 304 billion 517 million TL in the January-February 2024 period. While a non-interest deficit of 147 billion 220 million TL was recorded in the January-February 2023 period, a non-interest deficit of 128 billion 594 million TL was recorded in the January-February 2024 period.

BUDGET EXPENDITURES

Central government budget expenditures as of the January-February period amounted to 1 trillion 457 billion 873 million TL. Interest expenditures were 175 billion 923 million TL, while non-interest expenditures were 1 trillion 281 billion 950 million TL.

In the January-February 2024 period, central government budget expenditures increased by 105.1 percent compared to the same period last year, reaching 1 trillion 457 billion 873 million TL. Non-interest budget expenditures increased by 95.7 percent compared to the same period last year, reaching 1 trillion 281 billion 950 million TL.

Central government budget revenues as of the January-February period amounted to 1 trillion 153 billion 356 million TL. Tax revenues were 923 billion 492 million TL, and general budget non-tax revenues were 183 billion 336 million TL.

While budget revenues were 507 billion 906 million TL in the January-February 2023 period, they increased by 127.1 percent in the same period of 2024 to reach 1 trillion 153 billion 356 million TL. Tax revenue collection for the January-February 2024 period increased by 113.6 percent compared to the same period last year, reaching 923 billion 492 million TL.

News Source: İHA