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U.S. Department of the Treasury (2024). National Debt and Fiscal Sustainability.
https://home.treasury.gov/

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• TITLE: Comparing Public Finance Management in Türkiye and the United States—A Comprehensive Analysis

  AUTHORS: Ramil Abbasov

  KEYWORDS: Public Finance Management (PFM), Fiscal Discipline, Transparency, Medium-Term Program (MTP), Decentralization, Public Participation, Debt Management, Türkiye, United States, Economic Governance

  JOURNAL NAME: Journal of Financial Risk Management, Vol.14 No.1, March 7, 2025

  ABSTRACT: This paper examines the public finance management (PFM) systems of Türkiye and the United States, highlighting their contrasting approaches to fiscal governance. Türkiye employs a centralized system influenced by European Union frameworks, with a strong emphasis on fiscal discipline and medium-term planning. In contrast, the United States operates a decentralized model, characterized by transparency, citizen engagement, and state-level autonomy. The study explores key metrics, including debt-to-GDP ratios, fiscal transparency rankings, and tax collection efficiency. While Türkiye’s system excels in strategic planning, it faces challenges in decentralization and public participation. Conversely, the U.S. boasts robust transparency mechanisms but struggles with growing national debt and fiscal disparities among states. By analyzing these systems, the paper identifies areas for mutual learning, recommending a balanced integration of transparency, participation, and strategic planning to enhance public finance governance in both nations.