Budget deficit to GDP ratio is estimated at 3.5 percent.
Budget deficit to GDP ratio in 2020 was 3.5 percent. It is estimated that in 2021 this ratio will be 3.5 percent (Medium Term Program).
In September, the central government budget balance had a deficit of 23.6 billion TL, and the primary balance was 9.5 billion TL. In the January-September period, the budget gave a deficit of 61.2 billion TL, while the primary balance gave a surplus of 81.2 billion TL.
Budget deficit for 12-months rolling is TL 95.8 billion.
Total budget deficit for 12-months rolling decreased from TL 101.9 billion in August to TL 95.8 billion, in the same period primary surplus increased from TL 68.6 billion to TL 72.6 billion.
Tax revenues remained strong in September.
In September, tax revenues increased by 40 percent to 95.6 billion TL. In 2021 January-September period, budget revenues has been realized as TL 990.6 billion, increasing by 35.8 percent year on year. In this period tax revenues has been realized as TL 808.4 billion, increasing by 39.7 percent year on year.
Realizations above expectations mainly in corporation tax and items such as, domestic VAT, VAT on imports have been effective in this revenue performance. The strong economic activities, the increase in e-commerce and expenditures by credit card and the tax amnesty are positively affect tax revenues.