Headline: Budget Reports a Deficit of 16.6 Billion TL in November

According to data released by the Ministry of Treasury and Finance, the central government budget posted a deficit of 16.6 billion TL in November 2024. Budget expenditures amounted to 956.1 billion TL, while budget revenues reached 939.5 billion TL. Non-interest budget expenditures were recorded at 809.8 billion TL, and the non-interest surplus was noted at 129.7 billion TL.

In November 2023, the budget posted a surplus of 75.6 billion TL, making the deficit of 16.6 billion TL in November 2024 particularly noteworthy. Similarly, the non-interest surplus, which was 170.2 billion TL in November of the previous year, decreased to 129.7 billion TL this year.

Budget expenditures in November amounted to 956 billion TL.

In November 2024, central government budget expenditures reached 956.1 billion TL. Of these expenditures, 146.3 billion TL were interest payments, while expenditures excluding interest accounted for 809.8 billion TL. In November of the previous year, budget expenditures were recorded at 671.2 billion TL.

The budget expenditures in November showed an increase of 42.5% compared to the same period in 2023. The increase in non-interest expenditures was recorded at 40.5%. The realization rate of expenditures against budget allocations decreased from 12% in 2023 to 8.6% in 2024.

Budget revenues reached 939 billion TL.

In November, central government budget revenues amounted to 939.5 billion TL. Of these revenues, 819.4 billion TL came from tax revenues, while 97.7 billion TL were non-tax revenues. The budget revenues, which were 746.8 billion TL in the same month last year, showed an increase of 25.8% this year.

Tax revenue collections increased by 22.6% in November compared to the same period last year, reaching 819.4 billion TL. However, the realization rate of budget revenues against budget forecasts dropped from 15.1% last year to 11.1% this year.

The budget deficit from January to November reached 1.2 trillion TL.

In the January-November period of 2024, central government budget expenditures totaled 9 trillion 70.2 billion TL, while budget revenues were 7 trillion 793.3 billion TL. During this period, the budget deficit was recorded at 1 trillion 276.9 billion TL. Non-interest budget expenditures were 7 trillion 875 billion TL, resulting in a non-interest deficit of 81.7 billion TL.

In the same period last year, the budget deficit was 532.4 billion TL, and the non-interest surplus was 99.8 billion TL. The non-interest deficit this year during the same period is noteworthy.

The annual increase in budget expenditures was 74.7%.

In the January-November period, central government budget expenditures amounted to 9 trillion 70.2 billion TL. Interest expenditures were 1 trillion 195.2 billion TL, while non-interest expenditures were recorded at 7 trillion 875 billion TL.

Budget expenditures increased by 74.7% compared to the January-November period of 2023, while the increase in non-interest expenditures was 72.7%. This significant increase in expenditures led to a growth in budget deficits.

Budget revenues increased by 67.2%.

In the January-November period, central government budget revenues were recorded at 7 trillion 793.3 billion TL. Tax revenues amounted to 6 trillion 597.1 billion TL, while general budget non-tax revenues reached 997.5 billion TL. Budget revenues, which were 4 trillion 660.5 billion TL in the same period of 2023, showed an increase of 67.2% this year.

Tax revenue collections reached 6 trillion 597.1 billion TL, marking an increase of 62.5%. However, the realization rate of budget revenues against forecasts decreased compared to the previous year.