Turkey: Government debt

* indicates monthly or quarterly data series
 Turkey

Government debt as percent of GDP

 Latest value 29.50
 Year 2023
 Measure percent
 Data availability 2002 - 2023
 Average 39.04
 Min - Max 27.16 - 71.51
 Source Ministry of Treasury and Finance of Turkey
The latest value from 2023 is 29.5 percent, a decline from 30.8 percent in 2022. In comparison, the world average is 62.14 percent, based on data from 134 countries. Historically, the average for Turkey from 2002 to 2023 is 39.04 percent. The minimum value, 27.16 percent, was reached in 2015 while the maximum of 71.51 percent was recorded in 2002. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series


Recent data
Turkey - Government debt - Recent values chart

Historical series
Turkey - Government debt - historical chart - 2002-2023




The government debt in Turkey and other countries is calculated as the total amount owed by the national government to domestic and international lenders. It is reported as percent of GDP so that we can evaluate its magnitude relative to the size of the economy.

Government debt of about 60 percent or less of GDP is not considered a problem. The government can make payments without strain and even has some room to borrow more. If debt levels reach 80-90 percent that may have negative effects on the economy. Debt above 120 percent of GDP is quite detrimental.
Definition: Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

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 Related indicators Latest Reference Measure
 Government spending, percent of GDP 13.62 2023 percent
 Government spending, in dollars 146.47 2023 billion U.S. dollars
 Fiscal balance, percent of GDP 6.40 2023 percent
 Government debt 29.50 2023 percent
 Government expenditure 1,598.38 Q3/2024 billion
 Tax revenue 16.11 2022 percent
 Commercial tax rate 42.30 2019 percent
 Tax preparation time 170 2019 hours
 Number of taxes 10 2019 taxes
 Taxes on goods and services 47.40 2022 percent
 Taxes on international trade 2.65 2022 percent
 Income and profits taxes 26.32 2022 percent
 Foreign aid 800.27 2022 million U.S. dollars
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