President Recep Tayyip Erdogan and the management of the economy announced the 2024-2026 Medium Term Economic Program (OVP) at the presidential complex in Ankara.
The government aims for a 4% GDP growth and USD 12,875 GDP per capita for 2024. It also estimates a 4.4% GDP growth and USD 12,415 GDP per capita this year. The OVP said the inflation target is 65% for 2023 and 33% for 2024. The budget will post a TRY 1.63tr deficit this year, in line with the OVP, which forecasted the average USD/TRY at 23.85 for the end of 2023 and 36.78 for 2024. Growth and trade, human capital and employment, financial and price stability, public finance, disaster management, green and digital transformation, and business and investment environment are the primary areas included in the structural reform topic in the OVP. The business world representatives said the OVP was prepared with consultation, and it’s a roadmap desired to be seen and heard by the market.