Türkiye's top economic officials convened Monday to assess progress on structural reforms and also discussed potential steps to accelerate policy implementation in light of rising global uncertainties and regional instability, according to a statement.
The Economic Coordination Board (EKK) also stressed alignment of monetary, fiscal and income policies sought to ensure a healthy continuation of economic rebalancing within the scope of the government's nearly two-year-old medium-term economic program.
The officials said Türkiye's economic fundamentals had strengthened thanks to the program's focus on price stability, fiscal discipline, a sustainable current account and long-term prosperity.
Chaired by Vice President Cevdet Yılmaz, the EKK includes ministers of finance, trade, labor, energy, industry, and agriculture, along with senior officials from other key economic institutions, including the central bank.
Monday’s meeting marked the board's fifth this year.
The government's medium-term program has primarily focused on policies to rebalance growth and tackle inflation. Aggressive monetary tightening since mid-2023, combined with favorable energy prices, has helped reduce Türkiye's annual inflation rate by more half over the past year.
Inflation lastly dipped to 35.05% in June.
The EKK statement said officials evaluated the current state of structural measures within the scope of the program and discussed additional steps to accelerate efforts.
"In this framework, concrete steps were identified in areas such as enhancing efficiency and effectiveness in public spending, strengthening fairness and efficiency in the tax system and combating the informal economy," it noted.
Officials pledged to pursue comprehensive structural reforms decisively across many domains, including combating inflation, fiscal discipline, improving the investment climate, increasing high-value-added production and exports, as well as energy, transportation, education, health care services, labor market, social security and social assistance.