The average annual growth target for the economy is 5.3 percent

In the 2023-2025 Medium Term Program (MTP), the growth target for the end of 2025 was determined as 5.5 percent, while it was stated that the inflation rate was expected to be 9.9 percent. While the inflation estimate for this year was significantly increased in the MTP, a record-high foreign trade deficit was foreseen. The Medium Term Program covering the years 2023-2025 was approved by the Presidential decree published in the Official Gazette. In the Presidential decree numbered 6003 published in the Official Gazette, it was stated that “It was decided to approve the annexed “Medium Term Program (2023-2025)” prepared by the Ministry of Treasury and Finance and the Strategy and Budget Presidency in accordance with Article 16 of the Public Financial Management and Control Law numbered 5018.” A decrease in growth and an increase in inflation were predicted for 2023. It was stated in the program, where it was stated that the export-oriented growth strategy would be continued, that an average growth rate of 5.3 percent was targeted. While the growth target for 2023, which was determined as 5.5 percent in the previous program, was revised downward to 5 percent, the growth target of 5.5 percent for 2024 remained constant. This rate was determined as 5.5 percent for 2025. The growth target of 5 percent for 2022 was not changed.