Turkish President Reveals Medium-Term Economic Program

Introduction

Turkish President Recep Tayyip Erdogan has unveiled a medium-term economic program aimed at making Turkey stronger, safer, and more prosperous.

Economic Roadmap

Erdogan stated, “In line with our goal, we are presenting our first roadmap for the economy through a medium-term program. We believe that this program will help us achieve high income status.”

Economic Growth and Export Targets

The President aims to achieve an average economic growth rate of 4.5% within three years, driven by high-value-added private sector investment. He also plans to increase exports to historic levels.

Main Priorities

Erdogan highlighted the following priorities for his country:

  • Repairing earthquake damages
  • Creating employment opportunities
  • Bringing inflation down to single digits
  • Improving income distribution

Foreign Exchange Reserves

The Central Bank of Turkey currently holds $117.3 billion in foreign exchange reserves.

Main Goals of the Program

The program aims to achieve the following:

  1. Healing wounds from natural disasters, particularly earthquakes
  2. Ensuring overall stability
  3. Lowering inflation to single digits (less than 10%)
  4. Continued economic growth, employment, and social equity

Main Policy Instruments

In the medium term, the program will focus on the following policy instruments:

  • Fiscal discipline (excluding earthquake-related spending)
  • Monetary policy
  • Structural transitions

Erdogan expects the program to have a positive impact on structural reforms in the medium term and improve short-term expectations.

Source: RT+Anatolia

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Robin Jackson is the editor-in-chief at 24PalNews. As an editor and author who covers business and finance, Robin shares the latest business news, trends, and insights with his extensive audience.

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