Medium-Term Program Published in the Duplicate Issue of the Official Gazette

The Presidential Decree regarding the approval of the three-year Medium-Term Program covering the 2027-2029 period of the Turkish economy has been published in the duplicate issue of the Official Gazette and entered into force, clarifying the fundamental economic targets.

Preparation Process of the Program

The Medium-Term Program, which includes the fundamental targets and policies of the Turkish economy for the upcoming three-year period, was prepared jointly by the Ministry of Treasury and Finance and the Presidency's Strategy and Budget Directorate.

Growth Expectations

Within the scope of the newly prepared program, the growth realization estimate for this year was determined as 3.3 percent, while the economy is projected to grow by 4.2 percent in 2027, 4.6 percent in 2028, and 5 percent in 2029.

Inflation Targets

While the inflation rate is estimated to realize at 28.4 percent at the end of this year, targets of 21 percent for next year, 13.5 percent for 2028, and 9 percent for 2029 have been set.

Budget Deficit Projections

Within the framework of macroeconomic targets, the ratio of the budget deficit to gross domestic product is targeted to be 3.1 percent in 2026, and to decline to 2.8 percent by the end of the program period.

Unemployment Rates

According to projections regarding employment and the labor market, the unemployment rate is planned to be 8.1 percent at the end of this year, 8 percent next year, 7.8 percent in 2028, and 7.6 percent by the end of 2029.

Foreign Trade Targets

During the program period, exports are projected to be 282 billion dollars at the end of 2026, 292 billion dollars in 2027, 302.5 billion dollars in 2028, and 316 billion dollars at the end of the program. Imports are estimated to be 387 billion dollars at the end of 2026, 397 billion dollars in 2027, 411 billion dollars in 2028, and 426 billion dollars in 2029.