2027-2029 Medium-Term Program Published: Working Hours and Employment Regulations
The new economic plan aims for flexible working models, remote work support for parents with children, and the labor force participation of social aid recipients.
Prepared in partnership with the Presidency's Strategy and Budget Directorate and the Ministry of Treasury and Finance, the Medium-Term Program for the 2027-2029 period has been published. The three-year new economic roadmap includes many targets, ranging from the regulation of working hours to reducing inflation to single digits.
The main targets of the Medium-Term Program have been announced
The Medium-Term Program for the 2027-2029 period, outlining the three-year roadmap of the Turkish economy, has been published. The program aims for productivity-based growth and the maintenance of fiscal discipline.
In the new period, the growth path is projected to rely on investment, production capacity, and technology-focused productivity increases rather than consumption.
Working hours and flexible employment models
In order to increase work-life balance, studies are planned to adjust working days. The development of flexible-term employment models is also among the important items of the program.
However, the program did not include details on how working days will be regulated or whether changes will be made to the weekly duration.
Employees with children and nursery support
To reduce care responsibilities from being a barrier to labor force participation, businesses that offer partial or full remote working opportunities to employees with children will be supported.
It is aimed to increase women's participation in employment by expanding institutional care and nursery services through cooperation between the central government, municipalities, and the private sector.
Transition from social aids to the labor force
The link between the social aid system and labor market programs will be strengthened, and individuals receiving social aid will be enabled to join the workforce by acquiring skills.
While vocational training programs will be shaped according to regional needs and local labor demand, it is aimed to create 2.1 million additional jobs during the program period.
Inflation and disinflation process targets
The disinflation process is targeted to decline to single digits at 9 percent by the end of 2029, starting from the end-2026 forecast level of 28.4 percent.
Monetary, fiscal, and incomes policies will be managed in a coordinated manner, and supply-side policies will be implemented to reduce costs in items such as food, housing, and energy.
Manufacturing industry and technology incentives
To prevent the domestic industry from experiencing capacity loss against protectionism in global trade, selective support mechanisms will be developed by providing financing and collateral facilitation.
Special ecosystem incentives extending from R&D to mass production will be provided for artificial intelligence, semiconductors, biotechnology, batteries, and next-generation transportation technologies.