Türkiye expects 4.2% economic growth in 2027
Türkiye expects economic growth to accelerate to 4.2% in 2027 from a projected 3.3% this year, supported by an improving global outlook and a recovery in external demand, Vice President Cevdet Yilmaz said Friday with next year's proposed budget in hand, Anadolu reported.
Presenting the government's 2027 budget proposal at the presidential complex in Ankara, Yilmaz said stronger growth among Türkiye's trading partners would create opportunities for exports and support balanced economic expansion.
The Turkish economy grew 3.7% in 2025, he said, adding that investment outpacing private consumption had strengthened production capacity and improved the composition of growth.
“In 2027, we expect our growth to rise to 4.2%, supported by the anticipated improvement in the global outlook and the recovery in external demand,” Yilmaz said.
The government aims to gradually accelerate growth to 5% by the end of its medium-term program through policies focused on productivity, technological transformation, and innovation, he said.
Employment is expected to increase by 657,000 people next year, with labor force participation reaching 53.4% and unemployment declining to 8%, from a projected 8.1% in 2026.
Yilmaz said annual inflation, which fell below 30% in September, was expected to reach 28.4% by the end of this year before declining to 21% by the end of 2027.
“Price stability is the fundamental priority of our program,” he said.
He said the current account deficit was expected to fall below 2% of gross domestic product next year from a projected 2.6% in 2026.
Türkiye will continue policies to boost exports, strengthen energy supply security, and reduce dependence on energy imports, he added.
Goods exports this January-September rose 5.2% year-on-year to $211 billion, bringing the rolling annual total to a record $283.7 billion, Yilmaz said.
The share of medium-high- and high-technology products in exports reached 44%, compared with around 28% in the early 2000s, he added.
Earlier, it was reported that Türkiye introduced new regulations prohibiting social media platforms from providing services to children under the age of 15.