Turkey Updates Three-Year Economic Program

Turkish Vice President Cevdet Yılmaz announced today that the government is focusing on inflation and will revise its medium-term economic program, addressing monetary and fiscal policies in the upcoming months. Yılmaz, who was appointed this month and is also seen as a proponent of market mechanisms, stated, "We will update our medium-term program in the coming months." He added that the program will address monetary and fiscal policies as well as structural reforms. He also mentioned that the program will include new details regarding the budget, noting that the government's economic coordination council will meet next week following a cabinet meeting. He stated, "As we activate policies aimed at reducing inflation on one hand, we will also implement policies to mitigate the impact of inflation on large segments of society on the other." He emphasized that the government will strive to maintain the purchasing power of Turks, just a day before the first meeting to determine the increase in the minimum wage.