Erdogan Emphasizes Strategic Cooperation at Turkey-US Business Council Meeting
President Erdogan shared the goal of strengthening commercial relations with the US and the details of the economic program during the meeting at the Turkish House.
President Recep Tayyip Erdogan stated in his speech at the Turkey-US Business Council Meeting held at the Turkish House that strategic cooperation with the United States is developing in all areas, and he announced the core elements of the economic program and commercial targets.
Components of the Economic Program
Stating that the four main components of the economic program they implement are price stability, fiscal discipline, sustainable external balance, and structural transformation, President Erdogan emphasized that despite the regional wars experienced over the past year, they have made significant progress in all of these principles.
Inflation and Disinflation Expectations
Stating that core goods inflation has dropped to its lowest level since 2020 and rent inflation to its lowest level in the last four years, Erdogan expressed that they anticipate completing the year with an inflation rate of approximately 28 percent and believe that 2027 will be a stronger period in terms of disinflation.
Fiscal Discipline and Budget Status
Announcing that the budget deficit will be closed at a level of 3.1 percent relative to the national income regarding fiscal discipline, Erdogan stated that the ratio of public debt to national income is below 22 percent.
Energy and Commercial Relations with the US
Recalling that America ranks first among Turkey's liquefied natural gas suppliers, Erdogan noted that they aim to expand this cooperation into all areas of energy, primarily nuclear energy.