Economy expected to grow 3.3 pct this year, says VP Yılmaz
ISTANBUL
Türkiye's economy is estimated to expand 3.3 percent this year and 3.8 percent in 2026 amid global uncertainties and moderate global growth outlook, the country's vice president said on Oct. 16.
"Our economy grew by 3.3 percent in 2024, and we anticipate that it will grow by 3.3 percent again in 2025," Cevdet Yilmaz told a press conference in Ankara.
He emphasized that due to global uncertainties and the moderate global growth outlook, the Turkish economy is expected to grow by 3.8 percent in 2026.
Türkiye's gross domestic product (GDP) is expected to rise to 62.2 trillion Turkish liras ($1.48 trillion) in 2025, before hitting $1.84 trillion next year, Yilmaz said.
He said Türkiye's medium-term economic program aims to strengthen financial stability, reduce fiscal discipline and inflation to single digits permanently, and ensure price stability.
"The unemployment rate is estimated to fall to 8.5 percent in 2025, and to 8.4 percent in 2026," Yilmaz said.
Also touching on the record-breaking export trend of Türkiye, Yilmaz said they anticipate achieving their export target of $282 billion by maintaining the uninterrupted increase in exports for 2026.
He added that they predict that budget expenditures will be $451.5 billion and budget revenues will be $387 billion in 2026.
Defense spending is projected to be $28.6 billion in 2026.
