Türkiye Collects 18 Million in Taxes and Pays 4 Million in Interest per Minute

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Turkey’s Escalating Interest Burden: An In-Depth Look

Fethi Yılmaz, a seasoned journalist, provided a comprehensive analysis on Radio Sputnik’s Yaz-Yorum program regarding Turkey’s substantial interest payments during the first five months of 2025. He highlighted the alarming trend of increasing debt servicing costs and their implications for the country’s economy.

Building upon his previous reports about tax revenues, Yılmaz emphasized that Turkey is incurring a staggering 3.8 million Turkish Lira in interest every single minute in this period. This figure underscores a significant rise in interest expenses, which have now reached their highest levels in the past fifteen years. He pointed out that the government paid a total of 307 thousand Lira in taxes per second, translating to approximately 18.4 million Lira in taxes each minute.

In total, the government collected approximately 4 trillion 6 billion 528 million Lira in taxes during the first five months of 2025. However, this substantial revenue is overshadowed by the mounting expenditures, particularly the 650 billion Lira budget deficit. To cover this deficit, interest payments alone have soared to 835 billion Lira.

The Cost of Debt Servicing: A Closer Look

Yılmaz stressed the magnitude of interest payments by referencing official data from the Ministry of Treasury and Finance. He pointed out that while Turkey pays approximately 18.4 million Lira in taxes every minute, it simultaneously spends about 3.8 million Lira on interest within that same timeframe. In fact, roughly one-fifth of all tax revenue is diverted exclusively to cover interest expenses.

Elaborating on the daily financial burden, Yılmaz explained:

• Every second, Turkey pays about 307 thousand Lira in taxes.
• Of this, roughly 64 thousand Lira goes directly toward interest payments.
• Hourly, the nation disburses about 1.1 billion Lira in taxes, out of which 230 million 619 thousand Lira is allocated to interest.
• Over the span of five months, total interest payments reached approximately 835 million 765 thousand Lira.

Yılmaz concluded with a critical perspective, stating that these interest payments, which drain national resources, do not translate into any tangible benefits for the country or its citizens. Instead, they exacerbate economic challenges and hinder sustainable growth.

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