2027-2029 Medium-Term Program Published in the Official Gazette
With the new MTP announced by Vice President Cevdet Yılmaz, the three-year targets and macroeconomic indicators of the Turkish economy have become clear.
The 2027-2029 Medium-Term Program, which outlines the three-year strategic roadmap for the Turkish economy, was announced to the public by Vice President Cevdet Yılmaz and published in the Official Gazette.
MTP Preparation Process and Global Risks
Consultations were conducted with all public institutions, the private sector, and professional organizations during the preparation of the program. It was emphasized that geopolitical tensions and risks in the global economy have reached historical highs.
Macroeconomic Indicators and Forecasts
In line with changing conditions, the Brent crude oil assumption rose to $89.3. Turkey's growth forecast for 2026 was updated to 3.3 percent, industrial growth to 2.3 percent, and the year-end inflation expectation to 28.4 percent.
Inflation and Reserve Targets
Despite a challenging external demand environment, exporters demonstrated a successful performance. Gross reserves increased to reach $188.2 billion; inflation is targeted to decline to the 9 percent level by 2029.
National Income and Employment Projections
For the first time in the history of the Republic, national income is expected to exceed $1.8 trillion by the end of 2026. By the end of the program period, national income is projected to surpass $2.2 trillion, and GDP per capita is projected to reach $25,000.
Investments, Supports, and Defense Expenditures
Expenditures for the earthquake zone are estimated to exceed $116 billion by the end of 2027. While additional credit support is provided for the manufacturing industry, additional resources have been created for defense expenditures and social housing budgets.