Erdoğan voices 'full support' for medium-term program

ANKARA

President Recep Tayyip Erdoğan has voiced his "full confidence and support” for the medium-term program that was unveiled on Sept. 5.

The government will continue to work tirelessly to achieve the goals set out in the program to increase the welfare of citizens and to ensure the sustainability of our economy for our future generations, Erdoğan said.

While the program will decisively fight inflation, it will decisively fight inflation, prioritize investment, production, employment, exports and growth, he added.

“We have full confidence and support for the medium-term program, which will strengthen agriculture, industry, high technology, tourism and many different sectors,” the president said.

Meanwhile, business leaders welcomed the updated medium-term program, expressing hope that the program will help further advance the gains that have been made.

The medium-term program provides an important road map for the fight against inflation, predictability and sustainable growth, said Rifat Hisarcıklıoğlu, president of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), which mostly represents small- and medium-sized companies.

“Business circles’ main expectations are financial stability, more predictability, reducing inflation to single digits, sustainable growth and prioritizing structural reforms,” he added.

With the revisions in growth and inflation targets, the program shows that the economic management responds swiftly to the realities of the economy and the new developments, said Şekib Avdagic, chair of the Istanbul Chamber of Commerce (İTO).

In the updated program, which covers 2025-27, the government revised downward its GDP growth forecast for 2024 from a previous 4 percent to 3.5 percent and lifted the inflation forecast from 33 percent to 41.5 percent.