Türkiye expects its annual budget deficit to have narrowed to around 2.5% of gross domestic product (GDP) as of June, down from 2.9% in 2025, Finance Minister Mehmet Şimşek said Monday.
Şimşek cited stronger fiscal discipline despite revenue losses from measures aimed at containing inflation that rose amid a fallout from the Iran war.
Last week's official data showed Türkiye's central government budget shifted to a surplus by posting an excess of TL 114.2 billion (around $2.4 billion) in June.
Revenues jumped 66.0% year-over-year to nearly $32.1 bilion in current prices, fueled by a 72% increase in tax collections, data from the Treasury and Finance Ministry showed. Expenditures rose 12.6% to some $29.7 billion.
In the January-June period, the budget posted a deficit of $20 billion, compared with a gap of around $20.8 billion a year ago. Expenditures rose 32.7% year-over-year to $185.5 billion, while revenues increased 39.1% to $165.5 billion.
