Turkish government announces “Medium-Term Program” with inflation and dollar forecasts

The Medium-Term Program was published in the Official Gazette today. The program also included the government’s growth, unemployment, inflation and dollar/TL exchange rate forecasts.

The Medium-Term Program (2023-2025) prepared by the Ministry of Treasury and Finance and the Strategy and Budget Presidency was published in the Official Gazette. In the program, the economic growth forecast was 5 percent for the years 2022 and 2023 and 5.5 percent for the years 2024 and 2025.

The unemployment rate forecasts were announced as 10.8 percent for 2022, 10.4 percent for 2023, 9.9 percent for 2024 and 9.6 percent for 2025.

Consumer inflation forecasts at the end of the year were 65 percent for 2022, 24.9 percent for 2023, 13.8 percent for 2024, and 9.9 percent for 2025.

The “current account deficit to national income ratio” forecasts were 5.9 percent for 2022, 2.5 percent for 2023, 1.4 percent for 2024, and 0.9 percent for 2025.

The government also shared its estimates for national income in TL and US dollars. According to these estimates, the government’s average dollar / TL exchange rate forecasts were 16.62 for 2022, 21.52 for 2023, 24.62 for 2024, and 25.76 for 2025.

SOURCE: sozcu.com.tr/2022/ekonomi/orta-vadeli-program-aciklandi-iste-hukumetin-enflasyon-ve-dolar-tahminleri-7346251/