Medium-Term Program Announced at the Presidential Complex

Vice President Cevdet Yılmaz announced the Medium-Term Program covering the 2027-2029 period at a meeting held at the Presidential Complex. Due to global uncertainties and increases in energy prices, macroeconomic forecasts for 2026 were updated, and the year-end inflation expectation was raised to 28.4 percent.

Medium-Term Program Announced

The Medium-Term Program covering the 2027-2029 period was shared with the public by Vice President Cevdet Yılmaz at the Presidential Complex.

This program, which presents the three-year policy framework updated every year, was affected by factors such as unpredictability in the world economy and regional wars.

Growth and Inflation Forecasts

Macroeconomic forecasts for 2026 were re-examined in line with global uncertainties and increases in energy and commodity prices.

Accordingly, the 2026 growth forecast was set at 3.3 percent, while the year-end inflation expectation was raised to 28.4 percent.

Foreign Trade and Energy Targets

According to the updated data, the average Brent oil price rose to $89.3, and energy imports were projected at $71 billion.

During the same period, the foreign trade deficit forecast reached $105 billion, while the tourism revenue forecast was revised to $65 billion.

Future Growth Projections

In the new program period, economic growth is targeted to strengthen gradually and reach 4.2 percent in 2027.

Growth rates are expected to be 4.6 percent in 2028 and 5 percent in 2029.

Employment and Unemployment Targets

The unemployment rate is projected to be 8.1 percent in 2026, 8 percent in 2027, 7.8 percent in 2028, and 7.6 percent in 2029.

In addition, according to the announced program, it is aimed to create approximately 2.1 million additional jobs across the economy.