Vice President Yılmaz: “Turkey Targets Over $17,000 Per Capita Income by End of 2025”
A Record-Breaking Year for Turkey’s Economy – At the Yatırım Danışma Komitesi (YDK) Toplantısı held at the Cumhurbaşkanlığı Dolmabahçe Çalışma Ofisi, Vice President Cevdet Yılmaz revealed ambitious economic targets. By the end of 2025, Turkey expects its national income to exceed $1.5 trillion and per capita income to surpass $17,000 for the first time.
Foreign Direct Investment Hits New Heights
Yılmaz emphasized a surge in foreign direct investment, noting that between January and July 2025, inflows reached $8.4 billion, with annualized figures at $13.8 billion. Since 2003, Turkey has attracted a total of $282 billion in foreign investment, a dramatic rise from the $15 billion recorded in the previous three decades.
From Export Growth to Global Investment Hub
Yılmaz pointed out that Turkey has expanded its role in the global economy, with exports climbing from $36 billion in 2002 to $262 billion in 2024. International companies have grown from 5,600 in 2002 to nearly 87,000 today, driving innovation through R&D, logistics, and management operations across sectors.
Green Transformation and Digital Leap Forward
With the İklim Kanunu taking effect in July 2025, Turkey is accelerating its green energy strategy. By 2026, the introduction of 5G and fiber technology will support a rapid digital transformation. Investment timelines for renewable energy projects have been significantly reduced, signaling faster progress in sustainability goals.
Disinflation and Fiscal Discipline at the Core
Yılmaz stated that inflation has already been cut by 42 points since mid-2024. The government aims to bring it below 20% by 2026 and to single digits by 2027. Economic growth is expected to remain stable at 3.3% in 2025 and gradually increase in the following years, supported by disciplined fiscal management.
Aiming for Sustainable Growth by 2028
Turkey plans to reduce its budget deficit to 3.6% of GDP in 2025 and 2.8% by 2028. By then, GDP is projected to approach $1.9 trillion, per capita income to reach $21,000, and exports to exceed $300 billion. These steps aim to position the country among the world’s high-income economies.
Strengthening Global Supply Chain Integration
Over the past decade, Turkey has attracted 539 projects connected to global supply networks. Through initiatives like HIT-30 and the Global Supply Chain Program, the country aims to lead in high-tech sectors such as semiconductors, renewable energy, and artificial intelligence.
Digital Investments Drive Investor Confidence
In 2024, digital transformation stood out as a key investment area. With strong activity in software, IT, and electronics, 35 major mergers and acquisitions were completed in this field. This growing trust reflects Turkey’s potential to become a major technology and innovation hub.
Building a Trusted and Competitive Investment Environment
Yılmaz concluded by emphasizing that Turkey’s investment ecosystem is becoming more predictable, stable, and globally competitive. The YDK platform plays a crucial role in connecting investors and government, shaping a sustainable and innovation-driven economic future.
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