Turkey to Announce Updated Medium-Term Economic Program Focusing on Inflation Reduction and Sustainable Growth
Turkey’s Vice President, Fuat Oktay, announced that Ankara will unveil on Monday an updated medium-term economic program outlining the government’s roadmap for the next three years, with a focus on reducing inflation, achieving balanced growth, and promoting sustainable social prosperity.
Speaking on the social media platform X on Sunday, Oktay said the program will be presented at a press conference and will include key budget figures for the period 2026–2028, along with updated macroeconomic indicators reflecting both domestic and global developments. He added that the government will also announce a structural reform agenda to support economic stability and growth.
Referring to the 2023 earthquake that claimed over 50,000 lives and damaged approximately 300,000 buildings, Oktay stated: “While updating our program, which emphasizes continued inflation reduction, balanced growth, sustainable social prosperity, and full recovery from the earthquake’s impact, we are maintaining and strengthening the core framework of our policies.”
Oktay emphasized that the program enjoys strong support from President Recep Tayyip Erdoğan. In the previous medium-term program, announced in September 2024, the government aimed to achieve single-digit inflation by 2026 and raise economic growth to 5% by 2027.
Recent official data, however, showed that Turkey’s annual inflation reached around 33% in August, exceeding expectations and highlighting the ongoing challenges facing the Turkish economy.
