New Turkish government's economic program centers on middle class

Published 04.11.2015 22:35
Updated 04.11.2015 23:34

The new government's economic program focusing on the middle class – the backbone of the economy – has been in preparation since the Justice and Development Party (AK Party) came to power alone by winning the largest share of the vote in the Nov. 1 elections. The AK Party's masterminds specializing in economics are taking the demands from all walks of life into consideration, while preparing the 64th government program, which aims to raise the economic growth rate to 5 percent.

One of the major topics that the four-year program focuses on is to unabatedly maintain social restoration studies. It will make Turkey switch to a production-based economic growth model that invigorates the middle class. A structural transformation mechanism will be established to liberate the economy from the middle-income trap, and production will be boosted to achieve a robust economy. Moreover, a new growth model will be introduced independent from current monetary and fiscal policies. Additionally, individual master programs will be prepared for each city to curb unplanned urbanization, and zoning laws will be updated. Cities that achieve economic development and population growth will be reconstructed as well.

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