Turkey's Finance Minister Simsek reports 521 billion lira budget surplus

Finance and Treasury Minister Mehmet Simsek said that Turkey posted a non‑interest budget surplus of 521 billion lira in the first half of the year, while the budget deficit improved by about 38 billion lira compared with the same period last year. He attributed the improvement to tighter fiscal discipline, measures against the informal economy and higher voluntary compliance, noting that the deficit‑to‑GDP ratio is expected to fall to roughly 2.5% by June 2025.

Simsek also highlighted that internal debt‑conversion rates are running below forecasts, and emphasized that maintaining fiscal discipline supports price stability and the government's disinflation target.