The government aims to bring down inflation to the single digits in 2026, Vice President Cevdat Yılmaz told an event in Bingöl province late Friday, highlighting an improvement in the country's overall macroeconomic situation, decreasing risk premium and consistent growth of the Turkish economy in the past three years.

"While the total global growth in the world is 7% in three years, I say this in a compound manner, it was 20% in Türkiye. Our economy expanded by 20% in real terms in the last three years. We created more than six million jobs. Our exports increased from $170 billion to $255 billion," Yılmaz said.

"We have been successful in real terms, but we are facing the issue of inflation on the financial side ... On the one hand, we are trying to reduce inflation, on the other hand, we are trying to sustain certain growth momentum," he said, asserting they would continue with a comprehensive approach.

"We will start to see annual decreases in inflation from the middle of next year. We have already started to see monthly decreases. The monthly increases from last summer are no longer there. We are heading toward lower figures but will see the annual effect from the middle of next year. Hopefully, we will reach single-digit figures in 2026," Yılmaz noted.

The annual consumer price index (CPI) eased to 61.36% in the 12 months to October, the lowest in three months, according to official data by the Turkish Statistical Institute (TurkStat).

Furthermore, the vice president touched upon the CDS (Credit Default Swap) ratio, which is a country's risk premium. "This was around 700 last May, but today it has fallen to around 360. In other words, Türkiye is now heading toward a much more stable point financially, but this is a process," he said, reiterating his belief that they would continue to obtain the results "by patiently applying the right policies" by working in a coordinated manner between institutions.

As part of his speech, he also recalled the difficulties experienced in the country due to the powerful Feb. 6 earthquakes that caused great destruction, affecting 11 provinces and around 14 million citizens.

"This year, only from our budget, we have allocated TL 762 billion ($26.56 billion) worth of resources for the earthquake zone. Next year, we have put TL 1.02 trillion into our budget for the earthquake zone," he said, vowing to continue "rebuilding the houses there, repairing the infrastructure and trying to revitalize socioeconomic life."