Gross debt in Turkey
The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. On the other hand not included in the gross debt are the demands of a country to foreign ones.The gross debt in Turkey in the period from 1998 to 2020 was between 83.7 billion and 315.5 billion USD. The hightest level within the past 22 years was reached in 2010. However, the liabilities in 2020 have been only 259 billion USD
Based on the number of inhabitants, this is in Turkey a debt of 3,066 USD per person. For comparison: The average debt per person in the same year in the European Union was 30,776 USD.
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Gross debt of the last 22 years in billion USD
Year | Turkey total | Turkey per capita | EU per capita |
---|---|---|---|
1998 | 83.65 bn USD | 1,364 USD | 14,079 USD |
1999 | 99.60 bn USD | 1,599 USD | 14,032 USD |
2000 | 101.99 bn USD | 1,613 USD | 11,232 USD |
2001 | 145.38 bn USD | 2,265 USD | 11,255 USD |
2002 | 161.30 bn USD | 2,476 USD | 12,258 USD |
2003 | 188.71 bn USD | 2,855 USD | 15,286 USD |
2004 | 222.36 bn USD | 3,318 USD | 17,595 USD |
2005 | 247.05 bn USD | 3,638 USD | 18,327 USD |
2006 | 241.86 bn USD | 3,518 USD | 18,877 USD |
2007 | 256.25 bn USD | 3,683 USD | 20,898 USD |
2008 | 292.61 bn USD | 4,155 USD | 24,086 USD |
2009 | 285.19 bn USD | 3,999 USD | 25,361 USD |
2010 | 315.51 bn USD | 4,362 USD | 26,496 USD |
2011 | 309.89 bn USD | 4,219 USD | 29,231 USD |
2012 | 296.72 bn USD | 3,975 USD | 28,174 USD |
2013 | 307.91 bn USD | 4,055 USD | 29,981 USD |
2014 | 279.88 bn USD | 3,624 USD | 30,648 USD |
2015 | 249.36 bn USD | 3,175 USD | 25,920 USD |
2016 | 251.63 bn USD | 3,152 USD | 26,262 USD |
2017 | 240.26 bn USD | 2,962 USD | 27,025 USD |
2018 | 221.01 bn USD | 2,684 USD | 28,454 USD |
2019 | 234.24 bn USD | 2,808 USD | 27,178 USD |
2020 | 258.61 bn USD | 3,066 USD | 30,776 USD |
Comparison of the gross debt per capita with the European Union in Euro
Budget deficit in Turkey
The budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurances, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money, than at at the beginning, it is a surplus - it is less, it is called deficit.The budget balance in Turkey in the period between 2001 and 2010 varied between -46.71 bn Euro and +3.95 bn Euro. In 2010 was reached a balance of -19.04 bn Euro.
In ratio to population, this equals a surplus of 0 Euro per capita in Turkey. For comparison, the average debt per capita in the European Union was in the same year at 1,970 Euro.
Budget deficit and surplus in the last 9 years
Year | Turkey total | Turkey per capita | EU per capita |
---|---|---|---|
2001 | -46.71 bn USD | -728 USD | -299 USD |
2002 | -23.48 bn USD | -360 USD | -565 USD |
2003 | -27.20 bn USD | -412 USD | -840 USD |
2004 | -17.39 bn USD | -260 USD | -920 USD |
2005 | -5.65 bn USD | -83 USD | -822 USD |
2006 | 3.95 bn USD | 57 USD | -568 USD |
2007 | -9.86 bn USD | -142 USD | -360 USD |
2008 | -20.47 bn USD | -291 USD | -1,085 USD |
2009 | -42.82 bn USD | -600 USD | -2,021 USD |
2010 | -19.04 bn USD | -263 USD | -1,970 USD |
(negative numbers = deficit)