Turkish Treasury Minister unveils new economic plan
Turkey’s treasury and finance minister on Monday announced the new economic program of the country for the three-year period starting from 2020.
The inflation rate should be lowered below 5% for a strong Turkey ideal, Berat Albayrak said during his presentation of the new program in the capital Ankara.
"WE REVISED OUR FORECAST"
"We revised our inflation forecast for 2019 with 12%, down from 15% in our previous target," Albayrak said. "The country's inflation targets are set as 8.5% next year, 6 percent in 2021 and 4.9 percent in 2022," he added.
"The new program will be maintained under the theme of transformation begins," he said. Albayrak said Turkey’s year-end economic growth is expected to be 0.5 percent in 2019. "The new program targets 5% annual growth rate for next three years each," he said.
"After closing 2019 with unemployment rate of 12.9 percent, we aim to reduce the figure to 11.8 percent next year, 10.6 percent in 2021 and 9.8 percent in 2022," he said.
On the fiscal discipline side, the minister noted that a 2.9 percent budget deficit-to-GDP rate is targeted for next two years while 2.6 percent is set for 2022.