Turkish State Railways Drowning in Debt, Owes Treasury 6.1 Billion Lira

Turkey's state-owned railway company, TCDD, is facing significant financial challenges, accumulating the largest debt burden to the Treasury among public economic enterprises (KİTs). As of May 20, 2026, TCDD's debt to the Treasury stood at a staggering 6.13 billion Turkish lira.

Official data released by the Ministry of Treasury and Finance reveals that the total debt of three KİTs to the Treasury has reached 6.18 billion lira. TCDD alone accounts for an overwhelming 99% of this total, highlighting its precarious financial position.

This situation comes amid ongoing discussions about TCDD's management, with accusations of political appointments and its prominent place on the privatization agenda. Critics have labeled TCDD as the "backyard and farm of the ruling party" due to its management structure.

In contrast, other public enterprises have much lower debt levels. EÜAŞ owes 30.29 million lira, and BOTAŞ owes 20.95 million lira to the Treasury. The data also shows a fluctuating trend in KİTs' total debt to the Treasury over the years, with a peak of 9.70 billion lira in 2023 before decreasing in subsequent years.