Business · Economy · 2 hrs ago
Şimşek says Türkiye’s economic program has strengthened resilience
Treasury and Finance Minister Mehmet Şimşek said Türkiye’s economic program has strengthened the economy’s resilience.
He made the remarks on Nov.
5 during parliamentary discussions on the ministry’s 2027 budget.
Türkiye’s economy is expected to grow 3.3% in 2026, 0.5 percentage points below the government’s Medium-Term Program target.
Şimşek said growth should gradually pick up in 2027, helped by recovering external demand and investment.
The current account deficit is forecast at about 2.2% of GDP this year, up from 1.9% in 2025, while the budget deficit is expected to stay below 3.5%.
The government expects inflation to keep easing in 2027, supported by tight monetary policy, moderate domestic demand and lower global commodity prices.
A draft bill would increase penalties for market manipulation, as the government says it plans further steps to build investor confidence.
Treasury and Finance Minister Mehmet Şimşek said Türkiye’s economic program had strengthened the country’s macroeconomic fundamentals and resilience.
He said deviations from the program’s targets remained limited despite multiple shocks in 2026.
Türkiye’s economy is expected to grow by 3.3 percent this year, 0.5 percentage points below the Medium-Term Program target.
Şimşek said growth was expected to accelerate gradually in 2027.
He also said the budget deficit would remain below 3.5 percent and the current account deficit would stay manageable.
- Who
- Treasury and Finance Minister Mehmet Şimşek.
- What
- He said Türkiye’s economic program had strengthened resilience and outlined economic forecasts and policy priorities.
- When
- He spoke on Nov. 5, 2026, during discussions on the ministry’s 2027 budget.
- Where
- Parliament’s Planning and Budget Committee in Ankara.
- Why
- He was discussing the Treasury and Finance Ministry’s 2027 budget and the state of the economy.
This story does not have two clearly opposing sides.
The current account deficit-to-GDP ratio stood at 1.9 percent.
Şimşek spoke during discussions on the ministry’s 2027 budget at parliament’s Planning and Budget Committee.
The economy was expected to grow by 3.3 percent, below the Medium-Term Program target.
Growth was expected to accelerate gradually, while policy conditions were expected to support disinflation.
- 2026 growth forecast
- 3.3 percent
- Gap from target
- 0.5 percentage points below the Medium-Term Program target
- 2025 current account deficit-to-GDP ratio
- 1.9 percent
- 2026 current account deficit-to-GDP forecast
- Around 2.2 percent
- Budget deficit
- Expected to remain below 3.5 percent
What people are saying
In 2027, the tight monetary stance, moderate domestic demand conditions, improving expectations, easing inertia in services inflation and the projected decline in global commodity prices will support the disinflation process.
We expect the current account deficit-to-GDP ratio, which stood at 1.9 percent in 2025, to be around 2.2 percent this year, in line with the third-quarter estimate, despite the war.