Turkey unveils 2027-2029 economic plan: Key GDP and inflation goals

Turkish Vice President Cevdet Yilmaz has unveiled the 2027–2029 Medium-Term Economic Program (OVP), detailing the government's medium-term fiscal and macroeconomic benchmarks.

Curbing inflation remains the program's cornerstone. Yilmaz noted that price growth slowed from 75.5% in May 2024 to 31.5% in August 2026, targeting 28.4% by year-end before returning to single digits long-term. Other targets include generating 2.1 million jobs, lowering unemployment below 8%, expanding GDP above $2.2 trillion, raising per capita income to $25,000, and boosting goods and services exports to $450 billion.

Disaster reconstruction spending across earthquake-hit provinces is projected to surpass $116 billion by late 2027, with 455,000 properties already completed. Budget frameworks also mandate significant capital increases: defense spending will surge 229%, social housing allocations 150%, railway investments 49%, and potable water infrastructure 71%.

N.Tebrizli