Türkiye's budget deficit narrows to $584M in July, down 75% year-on-year

Türkiye's central government budget posted a deficit of 23.9 billion Turkish liras ($584.4 million) in July, plunging 75.3% year-on-year from a 96.77 billion liras ($2.36 billion) deficit last July, according to official data released on Friday.

The figure also narrowed from 330.2 billion liras (about $8 billion) in June, a report from Türkiye's Treasury and Finance Ministry showed.

Budget revenues hit 1.09 trillion liras ($26.6 billion), up 50% year-on-year, while expenditures totaled 1.12 trillion liras ($27.3 billion), rising 35.4%.

Non-interest expenditures reached 986.2 billion liras ($24.1 billion), while interest payments were 134.58 billion liras ($3.29 billion).

According to the report, tax revenues for July totaled 949.8 billion liras ($23.2 billion).

- CUMULATIVE FIGURES

In the first seven months of 2025, the budget deficit was 1 trillion liras ($24.45 billion), up 19% year-on-year.

During this period, budget revenues reached 6.69 trillion liras ($163.59 billion), jumping 46.8% on an annual basis, while expenditures totaled 7.7 trillion liras ($188.29 billion), up 42.4%.

The US dollar traded at an average of 40.24 liras in July and 37.91 liras from January to July.