Business · Economy · 3 hrs ago
Türkiye forecasts 4.2% growth in 2027 budget proposal
Türkiye’s Vice President Cevdet Yılmaz presented the 2027 budget proposal in Ankara.
The government expects the economy to grow 4.2% in 2027, up from a projected 3.3% this year.
It says stronger growth among trading partners and a recovery in external demand should support exports.
The proposal sets spending at 27.28 trillion liras and revenue at 23.41 trillion liras, leaving a deficit equal to 3.5% of GDP.
Without earthquake-related spending, the projected deficit would be 2.8% of GDP, while the government forecasts inflation falling to 21% by the end of 2027.
The government says price stability remains its main priority and plans to support it with fiscal discipline and measures in areas such as housing and food.
Yılmaz said the proposal would be submitted to parliament with President Recep Tayyip Erdoğan’s signature; parliament’s decision is the next step.
Türkiye’s 2027 budget proposal projects economic growth of 4.2 percent, up from a projected 3.3 percent in 2026.
Vice President Cevdet Yılmaz presented the proposal on Oct. 16 in Ankara.
The proposal forecasts spending of 27.28 trillion Turkish liras and revenue of 23.41 trillion liras.
The budget deficit is projected at 3.5 percent of GDP, or 2.8 percent excluding earthquake-related spending.
The government expects inflation to fall to 21 percent by the end of 2027.
- Who
- The Turkish government, represented by Vice President Cevdet Yılmaz.
- What
- It proposed a 2027 budget that projects 4.2 percent economic growth.
- When
- The proposal was presented on Oct. 16, 2026.
- Where
- At the presidential complex in Ankara, Türkiye.
- Why
- The government expects an improving global outlook and recovering external demand to support growth.
This story does not have two clearly opposing sides.
Türkiye’s economy grew 3.7 percent, according to Yılmaz.
The government projected economic growth of 3.3 percent and a budget deficit of 3.1 percent of GDP.
Yılmaz presented the government’s 2027 budget proposal in Ankara.
The proposal projects 4.2 percent economic growth and a budget deficit of 3.5 percent of GDP.
- Growth target
- 4.2 percent in 2027
- Projected 2026 growth
- 3.3 percent
- Proposed spending
- 27.28 trillion Turkish liras
- Proposed revenue
- 23.41 trillion Turkish liras
- Projected deficit
- 3.5 percent of GDP; 2.8 percent excluding earthquake-related spending
- Inflation forecast
- 21 percent by the end of 2027
2 sources
What people are saying
In 2027, we expect our growth to rise to 4.2 percent, supported by the anticipated improvement in the global outlook and the recovery in external demand
Price stability is the fundamental priority of our program