Apr 17 2024: President Tayyip Erdogan revealed Turkey’s intentions to reinforce its medium-term economic program, outlining three key priorities aimed at enhancing public savings, prioritizing investments, and expediting structural reforms.
Following a cabinet meeting, Erdogan stated that preparations have been made by his economic team to fortify the program, with details set to be shared publicly soon.
The primary focus areas include boosting public sector savings, giving precedence to investments, and hastening structural reforms, as outlined by Erdogan and Vice President Cevdet Yilmaz during post-meeting discussions.
Yilmaz elaborated on ongoing efforts by the finance ministry and budget authority to study public sector savings, emphasizing the need for both expenditure reduction and enhanced efficiency to bolster competitiveness, economic efficiency, and social welfare.
Erdogan also expressed optimism about economic growth nearing 4% this year, citing positive export impacts, and predicted a 2.5% GDP ratio for the current account deficit by year-end.
Central Bank Governor Fatih Karahan added in a Washington panel that Turkey remains on course to meet its inflation target of 36% by year-end, anticipating a peak around 75% in the interim.
