Turkiye's budget balance posts $21.6B deficit in 2021
Tax revenues total $131B, interest payments at $20.4B last year, official data shows
Turkiye's central government budget balance posted a 192.3 billion Turkish liras ($21.6 billion) deficit in 2021, the Treasury and Finance Ministry announced on Monday.
The figure, below the government's target, widened by 9.7% from a 175.3-billion Turkish lira ($25 billion) deficit in 2020.
According to the medium-term economic program published in September 2021, the budget deficit was expected to be 230 billion Turkish liras ($27.7 billion) last year.
Turkiye's budget revenues surged by 36.8% year-on-year to 1.4 trillion liras ($158.4 billion) last year.
Its expenditures reached nearly 1.6 trillion liras ($180 billion) in 2021, rising 32.9% from a year ago.
Excluding interest payments, the budget balance saw a deficit of 11.4 billion liras ($1.3 billion) in 2021.
Tax revenues totaled 1.2 trillion liras ($131 billion), while interest payments were 180.9 billion liras ($20.4 billion) in the same period.
One US dollar traded for 8.8880 liras on average in 2021 and 13.3384 in December.
In December 2021, the budget balance of the central government registered a deficit of 145.7 billion Turkish liras (some $10.9 billion), growing from 43 billion Turkish liras ($5.5 billion) in December 2020.
Budget revenues were 135.1 billion liras ($10.1 billion) last month, rising 40% year-on-year.
Turkiye's budget expenditures doubled from a year ago to 280.8 billion liras ($21.1 billion) last month.
Excluding interest payments, the central government budget balance recorded a 136.7-billion-lira ($10.3 billion) deficit in December 2021.