πΉπ· Turkey
Public Sector Debt Β· 2026
Total Debt
26.9%
of GDP
Global Rank
#174
of 192
Interest Burden
11%
of govt revenue
S&P Rating
BB-
Credit rating
SOE Debt
+1.8%
1 categories
5yr Change
-9pp
improving
Where the Debt Sits
Central Government
Subnational
Central Government: 19.8%Subnational: 5.3%Infrastructure: 1.8%
Who Holds This Debt
Holder Breakdown
Domestic 65%
Foreign 35%
Domestic: 65%Foreign: 35%
Currency Denomination
Local 47%
Foreign 53%
Local currency: 47%Foreign currency: 53%
Full Debt Breakdown
Central Government19.8% of GDP
Central GovernmentIMF WEO β General Government Debt
19.8%Subnational / Regional5.3% of GDP
SubnationalIMF WEO β General Government Debt
5.3%Infrastructure SOEs1.8% of GDP
Turkish State Railways (TCDD) and other SOEsSOE financial reports / Treasury dataRailways, postal service, and various industrial SOEs.
1.8%Total Corporate Debt38.8% of GDP
Nonfinancial corporate debt (total)BIS Credit Statistics Q3 2025SOE portion modest ~3-5% GDP.
38.8%Household Debt9.8% of GDP
Household debtBIS Credit Statistics Q3 2025Extremely low by global standards.
9.8%Unfunded Pension Liabilities120.0% of GDP
SGK pension system unfunded (est.)EC methodology; OECD Turkey reviews2023 EYT reform: 2.5M early retirements. Deficit ~3-4% GDP.
120.0%State Bank Liabilities9.1% of GDP
State banks (Ziraat, Halkbank, VakΔ±fbank)BRSA banking data / bank annual reportsThree state-owned banks hold ~40% of banking system assets. Used for directed lending and policy purposes.
9.1%All Layers Total204.6%
Credit Ratings
S&P
BB-
Moody's
B3
Fitch
BB-
Data Sources
IMF WEO β General Government Debtgeneral_government Β· Updated semi_annual
Dec 202625.1% GDP
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