"We will reduce inflation to single digits with the support of tight monetary policy. We have no doubt about achieving our goals," Turkish President Recep Tayyip Erdoğan said in a nationally televised address announcing Türkiye's new medium-term economic programme.
Erdoğan announced the Medium-Term Program (MTP) on Tuesday, outlining the Turkish government's economic goals for the next three years.
The MTP aims to achieve healthy and high-quality growth, reduce inflation to single digits, and improve the current account balance. It also includes a number of structural reforms to boost investment, employment, and exports.
Erdoğan said that the MTP was prepared with a participatory approach and that it was a comprehensive roadmap for the Turkish economy.
Erdoğan also expressed his confidence that the MTP would contribute to the economy of the country at the highest level with the support of the business world and all segments of society.
Some 909,000 jobs will be generated a year during the program, and the unemployment rate is set to drop to single digits by end-2026, Erdogan said.
The program project that next year's unemployment rate will be 10.3% followed by 9.9% in 2025 and 9.3% in 2026.
While facilitating access to finance with a target-oriented and selective approach, the government will avoid practices that may lead to inflationary pressure, Erdoğan said.
The new program will boost domestic production and accelerate technological transformation in industry, support services trade, and focus on efforts to update the Customs Union, the president explained.
"We aim to attract direct investment flows to our country by strengthening bureaucratic and legal predictability," Erdoğan said.
Under the 2053 net zero emission target, the government will work to achieve green transformation in all areas of the economy, Erdogan said, adding that the program aims to adjust the national emissions trading system to comply with the EU Carbon Border Adjustment Mechanism.
