household debts in Turkey

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. 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 a debt of 3,075 USD per person. For comparison, the average debt per person in the same year in the European Union was 30,783 USD.

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Gross debt of the last 22 years in billion USD

YearTurkey totalTurkey per capitaEU per capita
199883.65 bn USD1,364 USD14,079 USD
199999.60 bn USD1,599 USD14,032 USD
2000101.99 bn USD1,613 USD11,232 USD
2001145.38 bn USD2,265 USD11,255 USD
2002161.30 bn USD2,476 USD12,258 USD
2003188.71 bn USD2,855 USD15,286 USD
2004222.36 bn USD3,318 USD17,595 USD
2005247.05 bn USD3,638 USD18,327 USD
2006241.86 bn USD3,518 USD18,877 USD
2007256.25 bn USD3,683 USD20,898 USD
2008292.61 bn USD4,155 USD24,086 USD
2009285.19 bn USD3,999 USD25,361 USD
2010315.51 bn USD4,362 USD26,496 USD
2011309.89 bn USD4,219 USD29,231 USD
2012296.72 bn USD3,975 USD28,174 USD
2013307.91 bn USD4,055 USD29,981 USD
2014279.88 bn USD3,624 USD30,648 USD
2015249.36 bn USD3,131 USD25,918 USD
2016251.63 bn USD3,106 USD26,261 USD
2017240.26 bn USD2,927 USD27,024 USD
2018221.01 bn USD2,669 USD28,448 USD
2019233.92 bn USD2,802 USD27,168 USD
2020258.73 bn USD3,075 USD30,783 USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      Turkey       European Union

Budget deficit in Turkey

household debts in TurkeyThe 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 insurance, 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. If it is less, it is called a deficit.

The budget balance in Turkey in the period between 2001 and 2010 varied between -46.71 billion euros and +3.95 billion euros. In 2010, Turkey reached a balance of -19.04 billion euros.

For comparison, the average debt per capita in the European Union in the same year was 1,970 euros.

Budget deficit and surplus in the last 9 years

YearTurkey totalTurkey per capitaEU 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
20063.95 bn USD57 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)
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