Flag of tr

Turkey Debt to GDP Ratio

Turkey's government debt to GDP ratio fell to an all-time low of 24.7% in 2024, down from 29.3% in 2023. This decline resulted from fiscal consolidation efforts including spending cuts and revenue enhancements. Strong economic growth of 5.1% in 2023 also supported the reduction. Turkey's record low government debt to GDP was 24.7% in 2024 and record high was 75.5% in 2001.

Yearly Historical Data (2000-2024)

(in %)
Year Debt to GDP Ratio
2024 24.7%
2023 29.3%
2022 30.8%
2021 40.4%
2020 39.4%
2019 32.4%
2018 29.9%
2017 27.8%
2016 27.7%
2015 27.2%
2014 28.3%
2013 30.9%
2012 32.2%
2011 35.9%
2010 39.5%
2009 43.2%
2008 37.7%
2007 37.8%
2006 44.2%
2005 50.2%
2004 57.2%
2003 65.2%
2002 71.5%
2001 75.5%
2000 51.6%
Turkey Debt to GDP Ratio : Definition
Turkey's government debt to GDP shows its debt relative to its economic output. It's calculated by dividing the total government debt by the gross domestic product, then multiplying by 100. The result is expressed as a percentage.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -0.8% -3.5% Dec'24
Interest Rate 39.5% 40.5% Oct'25
Private Credit (% GDP) 44.19% 49.89% 2024