ANKARA, Aug. 17 (Xinhua) -- Türkiye's central government budget deficit surged 1,484.6 percent year on year to 378.1 billion Turkish liras (about 7.9 billion U.S. dollars) in July from 23.9 billion liras a year earlier, according to data released Monday by the Turkish ministry of treasury and finance.
The sharp deterioration was largely attributed to a significant increase in interest payments. Interest expenditure more than doubled year on year, rising 142.8 percent to 326.8 billion liras in July.
Central government budget spending increased 59.8 percent year on year to 1.8 trillion liras, while budget revenues rose 28.8 percent to 1.4 trillion liras. Tax revenues increased 30 percent year on year to 1.2 trillion liras, while income-tax revenue rose 47.9 percent to 432 billion liras.
However, corporate tax revenue fell sharply by 69.8 percent year on year to 3.6 billion liras, weighing on overall tax collection.
The central government budget deficit reached 1.3 trillion liras during the January-July period, compared with 1 trillion liras in the same period of 2025.
Despite the wider overall deficit, the primary balance remained in surplus at 470.1 billion liras, up from 241.7 billion liras a year earlier, official data showed. ■
