Turkish economy projected to grow 3.3% in 2025, 3.8% in 2026

Vice President Cevdet Yılmaz has projected Türkiye's economy will maintain 3.3% growth in 2025 before accelerating to 3.8% expansion in 2026 despite ongoing global economic uncertainties. During Thursday's medium-term program presentation in Ankara, Yılmaz confirmed the economy grew 3.3% during 2024 and is positioned to replicate this performance next year before achieving moderately stronger growth the following year amid anticipated improvements in global economic conditions.

Economic expansion and GDP projections

The vice president detailed that Türkiye's gross domestic product is forecast to reach 62.2 trillion Turkish liras ($1.48 trillion) in 2025 before expanding to $1.84 trillion during 2026. These economic projections form part of the government's comprehensive medium-term program focusing on strengthening financial stability, establishing permanent single-digit inflation, reinforcing fiscal discipline, and ensuring sustainable price stability throughout the forecast period.

Employment and export targets

Yılmaz indicated unemployment rates should decline to 8.5% in 2025 before further improving to 8.4% during 2026. The government anticipates achieving its ambitious $282 billion export target for 2026 by maintaining uninterrupted export growth momentum, building upon Türkiye's recent record-breaking export performance that has significantly contributed to economic resilience amid challenging global market conditions.

Budgetary planning and defense expenditures

The medium-term program outlines budget expenditures of $451.5 billion against revenues of $387 billion for 2026, with defense spending projected at $28.6 billion during the same period. These fiscal projections reflect the government's balanced approach to economic management, prioritizing both strategic investment and fiscal sustainability while navigating complex global economic dynamics.