Officials working on Medium-Term Program

Anadolu Agency- ANKARA

AA photo.

Turkish officials have intensified work on the country’s next Medium-Term Program (OVP) and budget planning as preparations accelerate ahead of the program’s expected release in the first week of September.

President Recep Tayyip Erdoğan recently highlighted the busy agenda facing policymakers, saying, “We have an intensive period of work ahead of us. While our economic administration is preparing our Medium-Term Program, it is also working on reforms to be submitted to Parliament.”

In line with that effort, teams from the Presidency of Strategy and Budget and the Treasury and Finance Ministry have stepped up preparations for the OVP, which will cover the 2027-2029 period and be drafted with a three-year perspective.

Officials are determining key macroeconomic indicators for the programme period, including inflation, growth, unemployment, the current account balance, exports and imports. The framework for public finance, budget balances, spending ceilings for public institutions and policy measures related to priority reform areas is also being established.

Prepared with a focus on developments in the global, regional and national economy, the OVP is intended to increase predictability for both the public and private sectors. The program is updated regularly to reflect the results of annual policy implementation and changes in overall economic conditions.

Vice President Cevdet Yılmaz also commented on the ongoing work, saying the updated OVP could be unveiled in the first week of September.

“Our primary priority is, of course, price stability. At the same time, we will continue to strengthen growth, employment and investment,” Yılmaz said.