FX.co ★ Turkey Budget Deficit Widens in September

Turkey’s central government recorded a budget deficit of TRY 532.2 billion in September 2026, widening from TRY 309.6 billion in the same month a year earlier, as expenditures outpaced revenue growth. Total expenditures rose 34.1% year-on-year to TRY 1,785.4 billion, largely reflecting higher current transfers (up 48.7%), personnel expenses (24.5%), capital expenditures (34.6%), and purchases of goods and services (60.8%). Over the same period, total revenues increased 22.7% to TRY 1,253.1 billion, supported by a 21.8% rise in tax revenues to TRY 1,074.1 billion. Stronger collections from income tax, import VAT, and domestic VAT were key drivers of this increase. The primary deficit widened markedly to TRY 269.2 billion in September from TRY 73.0 billion a year earlier.