Ankara, September 08 (QNA) - Turkish Vice President Fuat Oktay unveiled on Monday the country's medium-term economic program covering the period from 2026 to 2028.

Speaking at a press conference in Ankara, attended by Treasury and Finance Minister Mehmet Simsek, Central Bank Governor Fatih Cuhadar, and other officials, Oktay said that the Turkish economy maintains a balanced outlook despite ongoing global inflationary pressures and rising geopolitical tensions.

He added that economic policies implemented by the government over the past two years have helped raise Turkiye's international reserves to historic levels, boosting confidence in the national economy. Oktay noted that the expected improvement in the current account balance under the medium-term program will significantly reduce Turkiye 's reliance on external financing.

The vice president projected the current account deficit to fall to 1.3 percent of GDP in 2026, 1.2 percent in 2027, and 1 percent by 2028.

He stated that the program aims for GDP to approach USD 1.9 trillion for the first time, with per capita income rising to USD 21,000. Tourism revenues are expected to reach USD 75 billion, and the unemployment rate is projected to drop below 8 percent.

Regarding the budget deficit, Oktay explained that the program targets a decline to 3.6 percent of GDP in 2025, 3.5 percent in 2026, and below 3 percent by the end of 2028. The targeted economic growth rates are 3.8 percent in 2026, rising to 5 percent by 2028.

The medium-term economic program also aims to reduce inflation to 28.5 percent in 2025, 16 percent in 2026, and 8 percent in 2028, achieving a stable single-digit level by the end of the program. (QNA)