Türkiye expects to end 2026 with annual consumer inflation of 28.4% and aims to bring it down to 21% by the end of 2027, according to the government’s 2027 Annual Programme published early on Tuesday.
The Presidential Annual Programme for 2027 was approved by Presidential Decision No. 11934 and printed in a supplementary (mükerrer) edition of the Official Gazette, issue 33413, dated 27 October. It was prepared by the Ministry of Treasury and Finance and the Presidency of Strategy and Budget. The annual programme turns the government’s medium-term economic plan into concrete targets and policies for the coming year.
Growth and jobs
The programme puts economic growth at 3.3% for 2026 and targets 4.2% for 2027, Anadolu Agency and CNN Türk reported. That is well above the International Monetary Fund’s latest view, which cut Türkiye’s 2026 forecast to 2.7% and kept 2027 at 3.6%.
Unemployment is expected to average 8.1% this year and to fall slightly to 8% in 2027, with 657,000 more people in work next year. The jobless rate was 7.8% in August, according to the statistics office TÜİK.
Trade and current account
Exports are expected to reach $282 billion by the end of 2026 and $292 billion in 2027. Imports are forecast at $387 billion this year and $397 billion next year, leaving a foreign trade deficit of about $105 billion in 2027. The current account deficit, the broadest measure of the country’s trade and income flows with the rest of the world, is projected at $38.5 billion, or 1.9% of national income.
What it means for residents
The 28.4% year-end estimate sits slightly below the 29.63% that economists expected in the central bank’s October survey. Even if the 2027 target is met, prices would still rise by about a fifth over the year.
The official forecasts also matter for budgets and contracts. Rent increases on existing leases and many pension and wage adjustments in Türkiye are linked to official inflation figures. Foreigners on fixed incomes in pounds, euros or dollars can find more on everyday prices in our cost of living in Türkiye guide.
Sources
- 2027 Yılı Cumhurbaşkanlığı Yıllık Programı Resmi Gazete’de yayımlandı (AA)
- 2027 yılı ‘Cumhurbaşkanlığı Yıllık Programı’ Resmi Gazete’de yayımlandı (CNN Türk)
- 2027 Cumhurbaşkanlığı Yıllık Programı Onaylandı (Alomaliye)
- 2027 yılı büyüme ve enflasyon hedefleri belli oldu (Bigpara/Hürriyet)
Photo: Jorge Franganillo / CC BY 3.0, via Wikimedia Commons
