started · updated
Turkey unveils 2027-2029 Medium Term Program economic roadmap
Turkish Vice President Cevdet Yılmaz has announced the 2027-2029 Medium Term Program (OVP), outlining a strategic roadmap for the nation's economy. The program focuses on achieving price stability through a rigorous disinflation process. The year-end inflation forecast for 2026 has been revised upward to 28.4%, with targets set at 21% for 2027, 13.5% for 2028, and 9% for 2029.
Economic growth projections have also been updated. Growth is expected to be 3.3% in 2026, rising to 4.2% in 2027, 4.6% in 2028, and reaching 5% by 2029. The program aims to drive national income beyond $1.8 trillion by the end of 2026 and eventually exceed $2.2 trillion by the end of the program period. Additionally, the government targets total goods and services exports to reach $450 billion.
On the labor front, the program seeks to create approximately 2.1 million additional jobs, with unemployment projected to fall to 7.6% by 2029. The government also highlighted fiscal discipline, noting that public savings measures have already reduced the budget share of certain consumption items from 4.6% to 2.9% as of late 2025. The program also addresses sector-specific goals, including health service improvements and digital transformation.
Entities
Central Bank of the Republic of Türkiye · Cevdet Yılmaz · Fatih Karahan · Mehmet Şimşek · Ministry of Treasury and Finance · Presidency of Strategy and Budget · Presidency of the Republic of Türkiye · Recep Tayyip Erdoğan · Republic of Türkiye · Strategy and Budget Presidency · Turkey
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The foreign trade deficit forecast has risen from $96 billion to $105 billion.
- [● 4 SOURCES] The average Brent crude oil price forecast has been raised to $89.3. www.ekoturk.com
- [DISPUTED] The 2026 growth forecast was revised from 3.8% to 3.3%. www.ekoturk.com · www.izgazete.net · www.konhaber.com · www.alborsaanews.com · batmanrehbergazetesi.com · +2 more
- [○ 1 SOURCE] Gross reserves have increased by $89.7 billion, reaching $188.2 billion. anadoludabugun.com.tr
- [● 12 SOURCES] The 2026 economic growth forecast has been updated to 3.3%. www.izgazete.net · www.ekoturk.com · www.konhaber.com · batmanrehbergazetesi.com · www.bizimsivas.com.tr
- [● 2 SOURCES] Public savings measures have reduced the share of specific expenditure items in the budget to 2.9% by the end of 2025.
- [● 15 SOURCES] The year-end inflation forecast for 2026 has been increased to 28.4%. www.izgazete.net · www.ekoturk.com · www.konhaber.com · batmanrehbergazetesi.com · www.corumhakimiyet.net · +4 more
- [● 18 SOURCES] Inflation targets for 2027, 2028, and 2029 are set at 21%, 13.5%, and 9% respectively. www.izgazete.net · anadoludabugun.com.tr · www.sakaryagazetesi.com.tr · www.bizimsivas.com.tr · www.aydinses.com · +8 more
- [● 6 SOURCES] National income is expected to exceed $1.8 trillion by the end of 2026. www.izgazete.net · www.avrupagazete.co.uk · www.bizimsivas.com.tr · alkuwaitnews.net
- [● 8 SOURCES] The foreign trade deficit forecast has increased from $96 billion to $105 billion. www.sakaryagazetesi.com.tr · batmanrehbergazetesi.com · www.turizmajansi.com · www.turizmhabermerkezi.net
- [● 20 SOURCES] The year-end inflation forecast for 2026 has been raised from 16% to 28.4%. www.izgazete.net · www.ekoturk.com · www.konhaber.com · batmanrehbergazetesi.com · www.corumhakimiyet.net · +8 more
- [● 4 SOURCES] The average Brent crude oil price forecast has risen to $89.3. www.ekoturk.com