Medium-Term Program announced: Per capita income targets unveiled
The new Medium-Term Program covering the 2027-2029 period of the Turkish economy was announced by Vice President Cevdet Yilmaz.
The new Medium-Term Program, which outlines the Turkish economy's three-year roadmap ahead, was announced to the public by Vice President Cevdet Yilmaz, and the Presidential Decree was published in the Official Gazette.
Preparation Process of the Program
Announced at a meeting held at the Presidential Complex, the Medium-Term Program was prepared in cooperation with the Ministry of Treasury and Finance and the Presidency's Strategy and Budget Directorate.
Growth and National Income Targets
While the 2026 growth forecast was updated to 3.3 percent, the industrial growth forecast dropped to the level of 2.3 percent.
At the end of the program, national income is projected to reach 2.2 trillion dollars, and national income per capita is projected to rise to 25 thousand dollars.
Inflation Expectations
The year-end 2026 inflation forecast was announced as 28.4 percent, with inflation targeted to decline gradually.
The inflation rate is expected to drop to single digits, falling to 21 percent in 2027, 13.5 percent in 2028, and 9 percent in 2029.
Foreign Trade and Current Account Deficit
The foreign trade deficit for 2027 is projected to be 105 billion dollars, and energy imports are projected to be 71 billion dollars.
The ratio of the current account deficit to GDP is estimated to be 1.9 percent in 2027, 1.8 percent in 2028, and 1.6 percent in 2029.
Employment and Unemployment Rates
It is planned to provide a total of 2.1 million additional jobs to the economy throughout the program period.
The unemployment rate is expected to be 8.1 percent at the end of 2026, 8 percent in 2027, 7.8 percent in 2028, and 7.6 percent in 2029.