Finance Ministry

Budget deficit in 2023 less-than gov’t forecast

The central government budget produced a deficit of 1.37 trillion Turkish Liras in 2023 that is less than the government had initially projected in the medium-term program.

The government had anticipated a budget deficit of 1.63 trillion liras or 6.4 percent of an estimated GDP in 2023.

In 2022, the budget deficit was 142.7 billion liras.

Reweighting taxable assets

The National Economy and Finance Ministry has set up a committee to reform the system for the arbitrary determination of taxpayers' incomes through counting their property assets - known in Greek as "tekmiria" - planning for their average reduction by 30% in taxable value terms, as the government's pre-election program dictated.

Four modifications to tax bill

The tax bill was passed by the plenary of the Parliament on Thursday, which means that professionals will be taxed for the year 2023 in a presumptive manner.

The minimum presumptive amount comes to 10,920 euros, which after 12 years of operation can rise to €14,196.

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