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Turkish business leaders react to new Medium-Term Program
Business leaders in Turkey are reacting to the newly announced Medium-Term Program (OVP), which outlines the country's economic roadmap for 2027-2029. Gürsel Baran, Chairman of the Ankara Chamber of Commerce, emphasized the necessity of concrete steps within the program to ensure the real sector can access financing. He noted that while inflation has decreased since May 2024, the path to single-digit inflation has been extended, with the 2026 year-end inflation forecast updated to 28.4 percent. The program aims for inflation to reach 21 percent in 2027, 13.5 percent in 2028, and 9 percent by 2029.
Ahmet Yaşar, President of the Turkey Insurance Association (TSB), highlighted the insurance sector's strategic role in supporting the OVP's goals, particularly regarding economic resilience and long-term savings. Yaşar pointed to the significant fiscal impact of natural disasters, noting that earthquake-related expenditures for the 2023-2026 period are expected to reach 5.4 trillion TL, with total spending estimated at approximately 116 billion dollars. He advocated for expanding compulsory disaster insurance and accelerating urban transformation to mitigate future economic and public finance risks.
Entities
Ahmet Yaşar · Ankara Chamber of Commerce · Cevdet Yılmaz · Gürsel Baran · Turkey Insurance Association
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] It is important for the Medium-Term Program to include concrete steps regarding the real sector's access to finance. www.karsmanset.com
- [DISPUTED] Inflation is projected to fall to 21 percent in 2027, 13.5 percent in 2028, and 9 percent in 2029. www.karsmanset.com
- [● 2 SOURCES] The insurance sector will play a strategic role in achieving the goals of the Medium-Term Program. www.gazetebirlik.com · www.haberport.com
- [○ 1 SOURCE] Total earthquake-related spending is expected to reach approximately 116 billion dollars. www.haberport.com
- [● 2 SOURCES] Earthquake expenditures for the 2023-2026 period are expected to reach 5.4 trillion TL. www.gazetebirlik.com · www.haberport.com
- [○ 1 SOURCE] The 2026 year-end inflation forecast has been updated to 28.4 percent. www.karsmanset.com