Government deficit to GDP ratio stands at 4.7% in 2020, TurkStat says
The general government deficit was estimated as 235 billion 256 million TL and the ratio of the general government deficit to Gross Domestic Product (GDP) was 4.7% in 2020, the Turkish Statistical Institute (TurkStat) said.
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Local government sector gave surplus in 2020 whereas central government and social security funds sectors gave deficit. The general government consolidated gross debt stock to GDP ratio rose to 39.8% in 2020.
The share of general government total expenditures in GDP was 35.9% in 2020
Total expenditures of general government reached 1 trillion 810 billion 867 million TL and its ratio to GDP increased to 35.9% in 2020. Total income increased to 1 trillion 575 billion 611 million TL and the share of income in GDP rose to 31.2%. As a value, an increase was seen in all of the main expenditure and revenue items. The general government gave 235 billion 256 million TL deficit in 2020.
Total tax and social contribution receipts increased to 1 trillion 274 billion 701 million TL in 2020
Total receipts of general government from taxes and social contributions increased to 1 trillion 274 billion 701 million TL in 2020. The share of taxes on production and imports in total rose to 47.4% in 2020 while it was 43.6% in 2019. The share of net social contributions and current taxes on income and wealth etc. fell to 28.1% and 24.3% respectively. The share of capital taxes did not change. (ILKHA)
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