[REVISION HISTORY]

Reactions and Reforms in Türkiye's 2027-2029 OVP

Updated 36 times since CLSTR started tracking revisions of this situation.

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2026-09-27 15:38 UTC → 2026-09-27 17:56 UTC · added ~~removed~~

The Turkish government’s 2027–2029 Medium-Term Program (OVP) continues to face scrutiny over its inflation targets and sectoral priorities. While the government maintains that the program is a necessary phase of macroeconomic balancing focused on fiscal discipline, opposition leaders remain critical. CHP Vice President Orhan Sarıbal has highlighted the upward revision of the 2026 inflation target from 16% to 28.4% and a 30% reduction in the agricultural budget, which he argues fails to protect farmers from rising costs. Additionally, YENİ Party’s Gökhan Günaydın described the plan as a “desperate struggle” that ignores economic realities. Recent developments have highlighted the program’s strategic focus on public investment in sectors the private sector cannot undertake, such as manufacturing, tourism, and the defense industry. The Public Investment Program Preparation Guide emphasizes that investments will target horizontal areas including R&D, digitalization, human resources, logistics, energy, and education to foster competitive growth. At the 27th TÜRKONFED Business Summit, Vice President Cevdet Yılmaz projected that the economy will grow by 3.7% in 2025 and 3.3% in 2026, aiming for 5% growth by 2029. He also highlighted a revolution in the defense industry, noting that defense exports exceeded $10 billion last year. TTYD President Oya Narin reported that Turkey became the 4th fastest-growing OECD destination between 2019 and 2025, with tourism revenues reaching $25.7 billion in the first half of 2026. Yılmaz further noted goals to reduce unemployment to 7.6% by creating 2.1 million new jobs. However, business leaders raised concerns regarding industrial competitiveness. Koç Holding Chairman Ömer Koç noted that high financing costs and the real appreciation of the Turkish Lira disadvantage manufacturers. Furthermore, TÜSİAD Chairman Ozan Diren reported a decline in cost-based competitiveness, noting it fell by 2.9% compared to the same period last year, urging improvements in productivity to navigate global supply chains.

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