Medium-Term Program announced: Per capita income targets unveiled
The 2027-2029 Medium-Term Program, outlining the three-year roadmap of the Turkish economy, has been announced to the public. With the program, growth, inflation, unemployment, and GDP per capita targets have been clarified.
The Medium-Term Program, containing the three-year strategic plan of the Turkish economy for the 2027-2029 period, has entered into force after being published in the Official Gazette. Announced to the public by Vice President Cevdet Yılmaz, the program sets out critical economic targets, primarily growth, inflation, unemployment, and GDP per capita.
Medium-Term Program in the Official Gazette
The Medium-Term Program, which determines the fundamental policies and economic growth route that the Turkish economy will follow in the upcoming three-year period, has been published in the Official Gazette. The program, whose preparation process has been carried out, contains critical data that will shape the country's economic future.
Growth and Industry Forecasts
Within the scope of the newly announced Medium-Term Program, the 2026 growth forecast has been updated to 3.3 percent, while the industrial growth forecast has declined to 2.3 percent. The economic balancing process is being shaped in line with these rates.
Inflation and Unemployment Expectations
While the year-end inflation forecast was announced as 28.4 percent, this rate is expected to drop to 21 percent in 2027, 13.5 percent in 2028, and 9 percent in 2029. The unemployment rate is projected 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.
Gross Domestic Product Per Capita
By the end of the program period, national income is targeted to reach 2.2 trillion dollars, and exports of goods and services are aimed to find the level of 450 billion dollars. GDP per capita is projected to exceed 20,000 dollars for the first time by the end of 2026.
Foreign Trade and Energy Targets
Within the framework of the new MTP, the 2027 foreign trade deficit is expected to materialize at the level of 105 billion dollars, while energy imports are projected to be 71 billion dollars. The tourism revenues forecast has been revised to 65 billion dollars.
Regulations Affecting Citizens' Lives
In addition to macroeconomic balances, the program also included headings that directly concern citizens' daily lives, such as increasing food and housing supply, social housing production, supporting employment, and creating a fairer tax system.