Türkiye's budget logs $2.4 billion surplus in June

Türkiye’s central government budget shifted to a surplus by posting an excess of TL 114.2 billion (around $2.4 billion) in June, reversing the deficit registered in the same month last year, official data showed on Thursday. Budget revenue 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 increased 12.6% to some $29.7 billion, data revealed. The primary balance, which excludes interest payments, registered a surplus of $6.7 billion in June, compared with a deficit of $1.15 billion in the same month last year. Non-interest expenditures increased 23.9% year-on-year to $25.3 billion, while interest payments fell 26.9% to $4.3 billion. Tax revenues surged 72% year-on-year to $28.05 billion. Income tax revenues rose 145.7%, domestic value-added tax (VAT) receipts increased 89.6%, and value-added tax collected on imports climbed 53.1%. Meanwhile, corporate tax revenues increased 31.8%, and special consumption tax receipts edged down 0.1%. In the January-June period, central government budget expenditures rose 32.7% year-on-year to $185.5 billion, while revenues increased 39.1% to $165.5 billion. The budget thus posted a deficit of $20 billion during the first half of the year, compared with a deficit of around $20.8 billion in the same period of 2025. Tax revenues in the six months increased 38.7% to $140.7 billion. Interest expenditures rose 31.7% to $31 billion, while non-interest expenditures increased 32.9% to $154.5 billion.