Interest payments (% of expense) in Turkey
Turkey: Interest payments (% of expense) was 11.0% in 2023. ◆ Volatile
Interest payments in Turkey, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
In 2023, interest payments in Turkey stood at 11.0%.
The figure is down 24.5% on the previous year and up 48.0% over ten years.
Over the whole period, interest payments in Turkey peaked at 39.3% in 1998 and was at its lowest, 2.8%, in 1978.
Turkey ranks 46th of 152 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Interest payments (% of expense) in Turkey, year by year
| Year | % of expense | Change |
|---|---|---|
| 1972 | 3.5% | — |
| 1973 | 3.6% | +4.3% |
| 1974 | 3.8% | +4.0% |
| 1975 | 3.6% | -4.7% |
| 1976 | 3.5% | -1.7% |
| 1977 | 3.0% | -14.3% |
| 1978 | 2.8% | -6.5% |
| 1979 | 2.9% | +1.1% |
| 1980 | 2.9% | +2.4% |
| 1981 | 6.2% | +112.0% |
| 1983 | 7.8% | +25.2% |
| 1984 | 9.7% | +24.8% |
| 1985 | 10.2% | +4.5% |
| 1986 | 15.5% | +53.0% |
| 1987 | 17.7% | +14.1% |
| 1988 | 18.1% | +1.9% |
| 1989 | 18.1% | +0.5% |
| 1990 | 20.8% | +14.5% |
| 1991 | 15.3% | -26.1% |
| 1992 | 13.1% | -14.7% |
| 1993 | 15.2% | +16.0% |
| 1994 | 20.9% | +37.7% |
| 1995 | 13.0% | -37.9% |
| 1996 | 13.3% | +2.7% |
| 1997 | 28.7% | +115.0% |
| 1998 | 39.3% | +37.1% |
| 2008 | 17.2% | -56.3% |
| 2009 | 12.4% | -27.6% |
| 2010 | 10.3% | -17.4% |
| 2011 | 9.4% | -8.6% |
| 2012 | 8.8% | -6.5% |
| 2013 | 7.5% | -15.0% |
| 2014 | 7.1% | -5.5% |
| 2015 | 6.5% | -8.4% |
| 2016 | 6.0% | -7.6% |
| 2017 | 6.1% | +2.9% |
| 2018 | 7.9% | +29.3% |
| 2019 | 6.4% | -19.5% |
| 2020 | 8.5% | +32.5% |
| 2021 | 9.7% | +14.6% |
| 2022 | 14.6% | +50.6% |
| 2023 | 11.0% | -24.5% |
Turkey compared with similar countries
- Turkey's 11.0% is above the median for upper middle income countries, which is 8.8%, 1.3× the median. (47 countries reporting)
- Turkey's 11.0% is above the median for Europe & Central Asia, which is 3.3%, 3.3× the median. (47 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 3.3% | 2.8% | 3.8% | 8 |
| 1980s | 11.8% | 2.9% | 18.1% | 9 |
| 1990s | 20.0% | 13.0% | 39.3% | 9 |
| 2000s | 14.8% | 12.4% | 17.2% | 2 |
| 2010s | 7.6% | 6.0% | 10.3% | 10 |
| 2020s | 11.0% | 8.5% | 14.6% | 4 |
Countries ranked near Turkey
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Frequently asked questions
- What is interest payments in Turkey?
- Interest payments in Turkey was 11.0% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest interest payments recorded in Turkey?
- The highest recorded value was 39.3% in 1998.
- What is the lowest interest payments recorded in Turkey?
- The lowest recorded value was 2.8% in 1978.
- How does Turkey rank for interest payments?
- Turkey ranks 46th out of 152 countries with data for 2023.
- Is interest payments rising or falling in Turkey?
- Over the last ten years it is up 48.0%. The long-run trend across the full record is volatile.
- Where does this Turkey data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Interest payments (% of expense). Statizoid updates them automatically from the source API.
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About this data
Interest payments include interest payments on government debt (including long-term bonds, long-term loans, and other debt instruments) to domestic and foreign residents. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.