Yilmaz: By overcoming the problems, our markets will continue to be stronger.

Vice President Cevdet Yılmaz is presenting the 2027 Central Government Budget Law Proposal and the 2025 Central Government Final Account Law Proposal at the Grand National Assembly of Turkey Planning and Budget Commission.

Yılmaz stated that despite the difficult external conjuncture, the Turkish economy maintained its resilience with the support of policies that prioritize macroeconomic stability and displayed a growth performance compatible with the disinflation process. He said that while the world economy grew by 19.3 percent cumulatively in the 2020-2025 period, the Turkish economy grew by 35.3 percent cumulatively in the same period.

In terms of annual average growth, while global growth was 3 percent, Türkiye's growth performance was 5 percent, well above the world average, Yılmaz said:

"In line with current forecasts, the Turkish economy is expected to maintain its position in the ranking of world economies and become the 16th largest economy in the world in 2026. In terms of Purchasing Power Parity, our country is expected to maintain its position as the 11th largest economy in the world and the 4th largest economy in Europe. In the first half of 2026, when geopolitical tensions escalate, energy and commodity prices increase, and the weakness in foreign demand becomes evident, the Turkish economy will increase by 10% in line with the disinflation process and tight monetary stance. It grew by 2.5 percent."

Yılmaz stated that the aim is for economic growth to reach 4.2 percent in 2027, 4.6 percent in 2028 and 5 percent at the end of the program period, and continued his words as follows:

"As we complete the year 2026, we anticipate leaving three historical thresholds behind, in line with the Turkey Century vision. At the end of 2026, our national income is expected to exceed 1.8 trillion dollars for the first time, our per capita income will exceed 20 thousand dollars for the first time, and our country will be above the threshold determined for the high income group. It is anticipated that our national income will surpass the 2 trillion dollar limit at the end of 2028 within the program period. The strong growth performance of the Turkish economy in the recent period is expected to be achieved by our citizens It is also reflected in the level of welfare and national income per capita. It is expected that the national income per capita, which was 18 thousand 103 dollars in 2025, will increase to 20 thousand 523 dollars in 2026, to 22 thousand 285 dollars in 2027, and to 23 thousand 419 dollars in 2028.

Yılmaz noted that within the framework of these developments, annual consumer inflation fell below 30 percent as of September 2026, reaching 29.7 percent, that they aim to reduce the consumer price increase, which is estimated to be 28.4 percent at the end of 2026, to 21 percent by the end of 2027, and that they will maintain their determined stance until single-digit inflation rates are permanently reached.

Source: TRT Haber Açık RSS (Gündem) (Open Press / Translated Full Text)