Top economic officials on Monday reviewed preparations for Türkiye's economic road map for the next three years, focusing on policy priorities, macroeconomic forecasts, budget targets and structural measures, according to a statement.
The Medium-Term Program is expected to outline the government's updated macroeconomic assumptions, fiscal framework and structural reform agenda for 2027-2029. It is due to be announced in early September.
The Economic Coordination Board (EKK) said preparations were at an advanced stage, with members reviewing the latest work in light of global and domestic economic developments.
The program will set targets for inflation, growth, unemployment, the current account deficit, exports and imports. It will also establish spending caps for public institutions and identify priority reform areas aimed at preserving fiscal discipline.
Chaired by Vice President Cevdet Yılmaz, the EKK includes the ministers of finance, trade, labor, energy, industry and agriculture, along with senior officials from key economic institutions, including the central bank. Monday's meeting was the board's seventh this year.
According to the statement, discussions covered the program's main policy priorities, macroeconomic projections, budget aggregates and structural measures needed to meet the targets.
The EKK said the road map would prioritize structural reforms to boost productivity and competitiveness while supporting investment, production, employment and exports. It also emphasized continued fiscal discipline and anti-inflation efforts, particularly supply-side measures targeting food and housing.
The board said policymakers were also considering input from public institutions, the private sector, civil society, professional organizations and academia.
Government says economic resilience has improved
The board said macroeconomic indicators had improved under the government's current program and that the economy had become more resilient despite heightened global uncertainty.
It said growth had remained steady, unemployment had declined and the disinflation process was continuing.
Exports have also maintained an upward trend despite difficult global conditions, supported by Türkiye's production infrastructure and efforts to diversify markets, the EKK said.
The board noted that high commodity prices continued to pressure the current account balance, but said the deficit as a share of gross domestic product (GDP) remained at sustainable levels.
It also said fiscal discipline had been maintained despite measures to cushion the effects of geopolitical developments, with the budget deficit broadly in line with program targets.
New financing support for manufacturers and exporters
The EKK also highlighted measures aimed at improving access to financing for manufacturers and exporters.
The government raised per-worker premium support for employees in selected manufacturing sectors to TL 3,500 (nearly $73), while the daily rediscount credit limit for exporters increased from TL 4.5 billion to TL 5 billion.
The ceiling for the Investment Commitment Advance Loan Program was raised to TL 750 billion, and an additional TL 250 billion in new credit support was allocated to the manufacturing industry.
The government also introduced additional financing for the tourism sector to help offset the impact of geopolitical developments. The EKK said TL 60 billion in Treasury-backed financing would be made available to tourism companies.