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- October 13, 202617°
- BIST10012,151-0.94%
- USD49.34+0.24%
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- INTEREST37.00%-1.00
- BITCOIN83,245+1.82%
- October 13, 202617°
Central Government Budget Records Deficit Exceeding 1 Trillion Lira in Five Months
The central government budget posted a deficit of 1 trillion 56 billion 999 million lira from January to May. In May, revenues declined while expenditures increased, resulting in a deficit in the primary balance as well.
According to data from the Ministry of Treasury and Finance, the central government budget recorded a deficit of 1 trillion 56 billion 999 million lira in the first five months of the year. The budget outcomes for May revealed the impact of declining revenues and rising expenditures on the deficit.
The budget deficit reached 298 billion 223 million lira in May. The primary balance, which had a surplus in the same month last year, reversed this year to a deficit of 169 billion 284 million lira.
According to the implementation results for May, central government budget revenues decreased by 18% compared to the same month last year, totaling 1 trillion 86 billion 168 million lira. Meanwhile, budget expenditures rose by 27% to 1 trillion 384 billion 391 million lira.
With this picture, 7.3% of the 18 trillion 978 billion 815 million lira appropriation forecasted for the 2026 central government budget was used in May alone. The monthly budget trend indicates an increased need for balancing in the remaining months of the year.
Expenditures Surpassed Revenues in the First Five Months
From January to May, central government budget revenues increased by 33.9% compared to the same period last year, reaching 6 trillion 277 billion 714 million lira. In the same period, budget expenditures rose by 37.4% to 7 trillion 334 billion 713 million lira.
This gap between revenues and expenditures led to a total deficit of 1 trillion 56 billion 999 million lira over five months. Thus, the budget balance continued its deficit trend in the first part of the year.
Personnel Expenses and Premium Costs Increased
Personnel expenses were among the largest budget items in May. Personnel costs rose by 48.1% compared to the same month last year, reaching 407 billion 509 million lira.
State premium expenses to social security institutions also increased by 52.6% during the same period, recorded at 52 billion 77 million lira. Excluding interest, budget expenditures rose by 28.3% to 1 trillion 255 billion 452 million lira.
May data showed that the contraction in revenues and the rise in expenditures continued to be decisive factors on the deficit. The five-month picture indicated ongoing pressure on the budget balance.
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