Türkiye's New Medium-Term Program Announced and Targets Updated

Vice President Cevdet Yılmaz announced the Medium-Term Program covering the 2027-2029 period to the public, sharing new economic targets and updated forecasts.

Medium-Term Program and Inflation Targets

At the meeting held at the Presidential Complex, the new Medium-Term Program, which serves as the economy's 3-year roadmap, was shared with the public.

Within the scope of the program, inflation is targeted to decline to 21 percent in 2027, 13.5 percent in 2028, and 9 percent in 2029.

Update in Growth and Inflation Forecasts

It was announced that economic assumptions were updated by taking global risks and regional wars into consideration.

In this context, the 2026 growth forecast was set at 3.3 percent, while the year-end inflation forecast was raised to 28.4 percent.

Public Savings and Fiscal Discipline

Minister of Treasury and Finance Mehmet Şimşek emphasized in his evaluation at the meeting that the saving measures implemented in the public sector have yielded successful results.

Minister Şimşek stated that a total of 484 billion Turkish Liras in savings had been achieved during this process, including the budgets of six ministries.

National Income and Earthquake Expenditures

It was stated that Turkey's national income is expected to exceed the 1.8 trillion dollar threshold by the end of the year.

On the other hand, it was reported that earthquake expenditures reached 5.4 trillion TL, 455 thousand independent housing units for rightful owners were completed, and expenditures will drop to 10 billion dollars in 2027.