Politics · Turkey · 3 hrs ago
Üsküdar municipality debt reaches 6.65 billion lira
At a meeting on the 2027 budget, Üsküdar’s deputy mayor presented figures showing the municipality and its affiliates owed 6.65 billion lira in September 2026, up from 1.04 billion in April 2024.
The debt is shared by the municipality and two affiliated companies, with most of it owed by ÜSPER.
A further about 1.4 billion lira in court-related obligations has not yet been recorded as debt, excluding interest.
The municipality said cash and property it can sell would cover only about 5% of its debt; 164 of its 171 properties were sold between April 2024 and September 2026.
In the first nine months of 2026, spending exceeded collected revenue by 1.2 billion lira, while investment and social assistance spending were below their allocated budgets.
The proposed 2027 budget is 16.2 billion lira and includes a 2.76 billion lira target for property sales.
The municipality says debt management will be a key priority in 2027, alongside plans to maintain social support and other services.
Üsküdar Municipality and its affiliated companies had total debt of 6.65 billion lira as of September 2026, according to figures presented to the municipal council.
The debt rose from about 1.04 billion lira in April 2024, while the sources describe the increase as roughly 6.4 to 6.5 times.
The reported total excludes about 1.4 billion lira in additional liabilities from court rulings that had not yet been recorded as debt.
From April 2024 to September 2026, the municipality’s cash holdings fell from 240 million lira to 44 million lira, and 164 of its 171 properties were sold.
The municipality’s 2027 budget was prepared at 16.2 billion lira, with debt management set as a priority.
- Who
- Üsküdar Municipality and its affiliated companies ÜSPER and KENTAŞ.
- What
- Their reported total debt reached 6.65 billion lira.
- When
- The debt figure was reported for September 2026; the budget and performance programme were discussed on 7 October 2026.
- Where
- Üsküdar, Istanbul, Turkey.
- Why
- The sources report the debt figures but do not establish a cause. Not stated.
This story does not have two clearly opposing sides.
The municipality and affiliated companies had total debt of about 1.04 billion lira.
The reported total debt stood at 6.65 billion lira, while cash holdings were 44 million lira.
The 2027 budget and performance programme were discussed at a municipal council meeting.
Yeni Şafak and Haber 7 published reports on the municipality’s debt and finances.
- Total reported debt
- 6.65 billion lira
- Municipality debt
- 1.27 billion lira
- ÜSPER debt
- 5.32 billion lira
- KENTAŞ debt
- 63 million lira
- Unrecorded court-related liabilities
- About 1.4 billion lira, excluding interest
- 2027 budget
- 16.2 billion lira
3 sources
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