Erdogan unveils new medium term economic plan to tackle inflation and drive economic growth

During the unveiling of the Medium Term Programme, President Erdogan emphasized the government's commitment to resolving Turkey's inflationary challenges.

He pledged to take decisive measures to combat inflation inertia, emphasizing the importance of coordination between monetary, fiscal, and income policies.

Erdogan underscored the significance of this economic roadmap, describing it as the first step towards a more powerful, secure, and prosperous Turkey. Unlike previous programs, this initiative includes a dedicated chapter for structural transformation measures, marking a notable departure from past approaches.

Erdogan outlined the key principles, policies, targets, and indicative economic growth rates contained within the program. Seven main areas were identified as priorities, including growth, trade, price stability, financial stability, human capital, employment, green and digital transformation, disaster management, public finance, and business and investment environment.

Crucially, Erdogan assured that economic growth would not be compromised during the program's implementation. He announced that primary reform steps had been identified to address various economic aspects, such as trade, stability, and investment.

One of the program's key pillars is the simplification of macroprudential policies to prevent consumption habits that disrupt economic balance and contribute to inflation.

The President also highlighted plans to offer financing opportunities that support the real sector in a price stability-focused manner, emphasizing growth-oriented policies that prioritize investments, employment, production, and exports.

Additionally, the program includes production planning, aiming to determine sufficiency rates for strategic agricultural products to ensure price stability and food supply security.

Erdogan's unveiling of the Medium Term Programme reflects the government's determination to tackle economic challenges and promote sustainable growth in Turkey. The program's comprehensive approach is expected to have a significant impact on the country's economic landscape. (ILKHA)