Taxes increased exponentially, but the budget still ran a deficit

The Ministry of Treasury and Finance has announced the Central Government Budget Developments for January 2025. According to the data released, the budget deficit, which was 150 billion 719 million TL in January 2024, decreased to 139 billion 259 million TL in the same period of 2025.

In January 2025, central government budget expenditures reached a total of 1 trillion 56.3 billion TL, while budget revenues were recorded at 917.1 billion TL. Thus, the budget deficit stood at 139.3 billion TL. In the same period, non-interest budget expenditures were 893.3 billion TL, while a non-interest surplus of 23.8 billion TL was calculated.

BUDGET BALANCE

The central government budget deficit, measured at 150 billion 719 million TL in the same period last year, showed some improvement by decreasing to 139 billion 259 million TL in January 2025.

The non-interest deficit, which was at the level of 29 billion 626 million TL in January 2024, turned into a non-interest surplus of 23 billion 759 million TL in the same month of 2025, presenting a positive picture.

BUDGET EXPENDITURES

As of January 2025, central government budget expenditures were realized at the level of 1 trillion 56 billion 342 million TL. While interest expenses accounted for 163 billion 18 million TL of these expenditures, non-interest budget expenditures were recorded at 893 billion 324 million TL.

Of the total appropriation of 14 trillion 731 billion 14 million TL allocated to the central government budget for 2025, 1 trillion 56 billion 342 million TL was used in January. In the same period of the previous year, this figure was at the level of 767 billion 968 million TL.

While budget expenditures increased by 37.6 percent compared to the same period last year, the realization rate according to budget appropriations was 6.9 percent in 2024 and 7.2 percent in 2025. Non-interest budget expenditures increased by 38.1 percent, reaching 893 billion 324 million TL. The realization rate of these expenditures according to budget appropriations was calculated at 6.6 percent in 2024 and 7 percent in 2025.

BUDGET REVENUES

As of January 2025, central government budget revenues were recorded at 917 billion 83 million TL. While tax revenues accounted for 792 billion 667 million TL of this revenue, non-tax revenues within the scope of the general budget were calculated at 104 billion 29 million TL.

While budget revenues were 617 billion 249 million TL in January of the previous year, they increased by 48.6 percent in the same period of 2025, reaching 917 billion 83 million TL. According to the budget estimate, the January realization rate of revenues was 7.3 percent in 2024, while this rate was measured at 7.2 percent in 2025.

In January 2025, tax revenues increased by 53.3 percent compared to the same period last year, reaching 792 billion 667 million TL. The realization rate of tax revenues according to the budget estimate was 7 percent in 2024, while it was recorded as 7.1 percent in 2025.

News Source: İHA