Turkey has forecast that GDP growth will rise to 5% by 2029 as part of a new medium-term economic programme unveiled by Vice-President Cevdet Yilmaz in Ankara.
The government expects the economy to expand by 3.3% in 2026, before growth strengthens to 4.2% in 2027 and 4.6% in 2028. The targets form part of Turkey’s economic roadmap for the 2027-2029 period.
The programme also sets out a steep reduction in inflation, with the rate projected to fall to 21% in 2027, 13.5% in 2028 and 9% in 2029.
Mr Yilmaz said the government expected inflation to end 2026 at 28.4%, with price pressures forecast to resume their downward trend in the final quarter of the year.
Turkey GDP growth forecast rises gradually
Officials are targeting a gradual reduction in the budget deficit, from 3.5% of GDP in 2027 to 3.1% in 2028 and 2.8% in 2029.
Unemployment is forecast at 8.1% in 2026 and is expected to decline steadily to 7.6% by the end of the programme.
Mr Yilmaz said Turkey’s national income was expected to exceed $1.8 trillion in 2026, with income per head rising above $20,000 for the first time, according to Turkey’s state-run Anadolu Agency.
The programme was prepared under the co-ordination of Turkey’s Presidency of Strategy and Budget and the Treasury and Finance Ministry, following consultations with business groups, civil society organisations and industrialists.
