Turkey's 2027 economic program announced: Growth and inflation targets set
The 2027 Presidential Annual Program, prepared by the Ministry of Treasury and Finance and the Presidency of Strategy and Budget, has been published in the duplicate issue of the Official Gazette and entered into force. The program sets out key economic targets regarding growth, inflation, employment, and the foreign trade balance.
The Presidential Decree regarding the approval of the 2027 Presidential Annual Program, which contains the fundamental goals and policies for the Turkish economy, has been published in the duplicate issue of the Official Gazette. Prepared by the Ministry of Treasury and Finance and the Presidency of Strategy and Budget, the program outlines the economic roadmap for the coming year.
Within the scope of the program, the growth realization estimate for 2026 is projected at 3.3 percent, while the growth target for 2027 has been set at 4.2 percent. Regarding inflation, the year-end estimate for 2026 was announced as 28.4 percent, and the year-end target for 2027 as 21 percent.
In the labor market, an increase of 657 thousand people is expected in 2027, while the unemployment rate is projected to be 8.1 percent this year and 8 percent next year. According to foreign trade data, exports are expected to reach 282 billion dollars by the end of 2026 and 292 billion dollars in 2027; imports are expected to reach 387 billion dollars and 397 billion dollars in the same periods, respectively.
While the 2027 foreign trade deficit is estimated to be at the level of 105 billion dollars, the current account deficit is targeted to be 38.5 billion dollars, with the ratio of this deficit to the gross domestic product aimed to remain at the 1.9 percent level.