The budget started the year with a deficit

SAFAKNA TURKEY – According to the Ministry of Treasury and Finance, central government spending in January was TL 321.3 billion, budget revenues were TL 289.1 billion, and the budget deficit was TL 32.2 billion.

While the central government budget had a surplus of 30 billion 44 million Turkish Lira in January 2022, it recorded a deficit of 32 billion 243 million Turkish Lira in January 2023.

While a primary surplus of TL 44 billion 276 million was recorded in January 2022, a primary deficit of TL 10 billion 883 million was recorded in January 2023.

Interest expense 21 billion lira

Central government spending as of January amounted to 321 billion 320 million Turkish liras. Interest expenses amounted to 21 billion 359 million Turkish liras, and non-interest expenses – 299 billion 961 million Turkish liras.

Budget execution based on economic classification is shown in the table below.
TL 321 billion 320 million was spent in January out of the TL 4 trillion 469 billion 570 million allocated for central government spending in 2023. In the same month last year, 145 billion 958 million Turkish liras were spent.

Budget expenditures for January increased by 120.1 percent compared to the same month of the previous year.

If in 2022 the level of implementation of expenditures on budgetary appropriations was 5.2 percent, then in 2023 it became 7.2 percent.

Non-interest budget expenditures increased by 127.7 percent compared to the same month of the previous year and amounted to 299 billion 961
million Turkish liras. If in 2022 the level of implementation of non-interest expenditures on budget allocations was 5.3 percent, then in 2023 it became 7.7 percent.

Revenue amounted to 289 billion lire.

As of January, the central government’s revenues amounted to 289 billion 78 million Turkish liras. Tax revenues amounted to 252 billion 826 million Turkish liras, and non-tax revenues of the general budget amounted to 27 billion 535 million Turkish liras.

If in January 2022 budget revenues amounted to 176 billion 2 million Turkish liras, then in the same month of 2023 they increased by 64.2 percent and reached 289 billion 78 million Turkish liras.

According to the budget estimate, if in January 2022 the rate of implementation of budget revenues was 6.9 percent, then in 2023 it became 7.6 percent.

Tax revenues in January 2023 amounted to 252 billion 826 million Turkish liras, which is 71.5 percent more than in the same month of the previous year. The level of implementation of tax revenues, according to the budget estimate, in 2022 amounted to 6.7 percent, and in 2023 – 7.9 percent.