Türkiye's Medium-Term Program (MTP) for 2025-2027, prepared by the Ministry of Treasury and Finance in collaboration with the Presidency of Strategy and Budget, was published in the Official Gazette on September 5.
Vice President Cevdet Yılmaz introduced the new program during a comprehensive presentation in Ankara, outlining its macroeconomic policies, targets, reform priorities, and implementation schedule.
While maintaining the core principles from last year's MTP, the MTP for 2025-2027 focuses on strengthening macroeconomic and financial stability, maintaining fiscal discipline, achieving price stability by reducing inflation to single digits, enhancing R&D and innovation, fostering technological transformation with an emphasis on transitioning to a green and digital economy, optimizing the labor market, improving the business and investment environment, and reducing informality in the economy—all aligned with the 11th Development Plan (2024-2028).
Vice President Yılmaz noted that when the previous program was unveiled, there was no conflict in Gaza. Therefore, the updated framework reflects recent geopolitical and economic developments. The new economic program forecasts Türkiye's GDP growth at 3.5 percent for 2024, 4 percent for 2025, 4.5 percent for 2026, and 5 percent for 2027, driven by economic reforms and structural adjustments. The GDP growth projection for 2024 was revised down from 4 percent to reflect regional tensions.
Türkiye's GDP at current prices is expected to rise to USD 1.33 trillion in 2024, up from USD 1.13 trillion in 2023, with a target of USD 1.77 trillion by 2027. Per capita GDP is projected to reach USD 20,420 by 2027.
The unemployment rate, revised down to 9.3 percent for 2024 from 10.3 percent, is expected to rise slightly to 9.6 percent as part of the economic rebalancing program. This program aims to create 2.3 million additional jobs, which, according to Vice President Yılmaz, will boost economic growth and gradually reduce unemployment.
The program's primary focus remains on curbing inflation, with the goal of reducing it to single digits over time. While inflation is expected to hit 41.5 percent by the end of 2023, it is projected to decrease to 17.5 percent in 2025, 9.7 percent in 2026, and eventually to 7 percent by 2027.
Yılmaz underscored the goal of increasing Türkiye's share of global FDI to 1.5 percent within the next four to five years, while also stressing the importance of the HIT-30 initiative, which aims to attract investment, particularly in the technology sector.