Growth and Budget Statements for 2026-2027 from President Erdoğan

President Recep Tayyip Erdoğan stated that, following the Cabinet Meeting, they project the Turkish economy to complete 2026 with 3.3 percent growth and 2027 with 4.2 percent growth. Explaining that expenditures in the 2027 central government budget are calculated at 27 trillion 276 billion liras and revenues at 23 trillion 408 billion liras, Erdoğan emphasized that social welfare and social justice are prioritized in the budget.

Stating that the education budget has reached a record level by being increased to 3 trillion 747 billion liras, Erdoğan reported that the total resource allocated to health services has reached 4 trillion 532 billion liras. He noted that urban transformation appropriations were increased by 176 percent to 276 billion liras, and 769 billion liras of resources were allocated for the remediation of earthquake damage and resilience against disasters. Additionally, in 2027, employment is targeted to increase by 657 thousand people and the unemployment rate to drop to 8 percent.

Announcing that in foreign relations, a transition to the level of strategic partnership with Canada has been made and three new agreements have been signed in the fields of defense, air transportation, and energy, Erdoğan noted that the bilateral trade volume target is 10 billion dollars. Stating that they welcome the approval of the maritime jurisdictions memorandum signed with Libya by the Libyan House of Representatives, Erdoğan argued that the EU's reactions to this memorandum have no legitimate justification.