Budget deficit hits TRY 139.1bn in 2022

The central government budget balance posted a TRY 139.1bn deficit last year, according to Treasury and Finance Minister Nureddin Nebati.

Speaking at an event held at Dolmabahce Palace’s Working Office in Istanbul, Nureddin Nebati said the budget deficit was TRY 322.1bn below the OVP (Medium-Term Economic Program) target set for 2022.

Budget revenues, meanwhile, totaled TRY 2.8tr while budget expenditures amounted to TRY 2.94tr in 2022.

Nebati also stated that the primary surplus reached TRY 171.8bn in total last year.

“The primary balance posted a surplus in 2022 after four years when the global economy experienced a sharp turbulence,” Nebati added.

Stressing that Turkey has positively differentiated from developed and developing countries in terms of stock exchange performance, Nureddin Nebati said Borsa Istanbul provided the highest return at 111% on a USD basis. 

The Treasury and Finance Minister also noted that per capita income is expected to exceed USD 10,000 in 2022 and USD 12,000 this year.

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