Fiscal Balance in Turkey
Turkey's fiscal deficit was generally narrow over the last decade, though the pandemic strained public finances. Moreover, the deficit surged in 2023 following devastating earthquakes and due to fiscal largesse ahead of the May 2023 elections. The fiscal balance in Turkey averaged -1.8% of GDP in the decade to 2022, in line with the Eastern Europe average of -1.8% of GDP. The fiscal balance in 2022 was -0.9% of GDP. For more fiscal balance information, visit our dedicated page.
Turkey Fiscal Balance Chart
Note: This chart displays Fiscal Balance (% of GDP) for Turkey from 2014 to 2024.
Source: Macrobond.
Turkey Fiscal Balance Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -3.5 | -2.8 | -1.0 | -5.2 | -4.9 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Turkish fiscal balance projections for the next ten years from a panel of 25 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable fiscal balance forecast available for Turkish fiscal balance.
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