President Recep Tayyip Erdoğan expressed full support for Türkiye’s updated medium-term program (MTP) that provides a three-year perspective on macro policy and key economic data, announced by ministers and other officials on Thursday.
Noting that the government is fighting inflation in a determined manner, Erdoğan said he has full confidence in the road map, which he said prioritizes investment, production, employment, exports and economic growth, and would boost agriculture, industry, tourism and various sectors.
The president continued by saying that the government would continuously work to enhance prosperity among citizens and ensure the sustainability of the Turkish economy for the next generations.
First unveiled last September, the medium-term program is centered around structural reforms, reining in stubborn inflation while eventually ensuring sustainable growth.
Data on Monday showed Türkiye’s economy expanded at a slower-than-expected pace in the second quarter, weakening in the face of a yearlong monetary tightening drive, but the quarterly growth rate surprised analysts by remaining positive. The economy grew 2.5% on an annual basis in the April-June period.
The government unveiled the MTP shortly after presidential and parliamentary elections last year and a shift in the economic policy that saw the Turkish central bank lifting its benchmark rate from 8.5% in June 2023 to 50% in March this year in a bid to contain inflation.
