Turkey introduces new economic roadmap

6 September 2021 18:15 (UTC+04:00)

By Vugar Khalilov

Turkey has announced its three-year economic roadmap, Yeni Shafak newspaper reported on September 6.

The Medium-Term Programme covering the 2022-2024 targets was worked out by Turkey’s Treasury and Finance Ministry and the Presidency of Strategy and Budget Department.

Under the programme, where the 2021 growth forecast is 9 percent, the economic rise is expected to be 5 percent in 2022 and 5.5 percent in 2023 and 2024.

Moreover, the unemployment rate is estimated to be at 12.6 percent in 2021. The programme predicts a decline in the unemployment rate for the upcoming years. Thus, the roadmap sets 12 percent unemployment target for 2022, 11.4 percent for 2023 and 10.9 percent for 2024.

According to the roadmap, the current 16.2 percent inflation rate in the Turkish economy will decline, amounting to 9.8 percent in 2022, 8 percent in 2023 and 7.6 in 2024.

Furthermore, the document is aimed at reducing the ratio of the current account deficit to the GNP gradually to 2.2 percent in 2022, 1.5 percent in 2023 and 1 percent in 2024.

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