Türkiye has introduced a comprehensive budget proposal for 2027, amounting to approximately 27.28 trillion Turkish lira ($550.8 billion), with an emphasis on enhancing economic resilience through strategic investments. The draft, now ready for parliamentary review, highlights priorities such as inflation reduction, housing investment, employment, export growth, and overall economic expansion.
According to Vice President Cevdet Yılmaz, the budget aims to bolster economic stability and improve living standards amid challenging global economic conditions. The government projects Türkiye’s economy to grow by 4.2% in 2027, up from an expected 3.3% in 2026, with further acceleration to 5% by 2029 driven by productivity gains, technological advancements, and increased investments.
The proposal outlines an anticipated increase in employment by 657,000 jobs in 2027, with the unemployment rate expected to fall to 8%. Furthermore, the government aims to cut annual inflation to 21% by the end of 2027, compared to a projected 28.4% at the close of 2026. Yılmaz emphasized price stability as a key priority, with social housing and food supply initiatives playing vital roles in mitigating inflationary pressures.
Türkiye’s budget deficit is forecast to reach 3.5% of its gross domestic product (GDP) in 2027, while a primary budget surplus is expected to be maintained. The government also plans to reduce the current account deficit to under 2% of GDP next year as it seeks to enhance export capacity and decrease reliance on imported energy.
Additionally, the proposal includes measures to strengthen energy security and foster sustainable economic growth through targeted investments and structural reforms. These initiatives reflect the government’s commitment to addressing both immediate economic challenges and long-term development goals.