Turkish Economy Forecast to Grow 3.3% in 2025 and 3.8% in 2026, Says Vice President

Türkiye’s economy is projected to maintain steady growth over the next two years despite global uncertainties, Vice President Cevdet Yılmaz announced on Thursday during a press conference in Ankara.

According to Yılmaz, the Turkish economy expanded by 3.3% in 2024, and is expected to grow at the same rate — 3.3% — in 2025. Looking ahead, GDP growth is forecast to accelerate to 3.8% in 2026, supported by resilient domestic activity and continued export performance.

GDP to Reach $1.84 Trillion Next Year

Türkiye’s gross domestic product (GDP) is estimated to reach 62.2 trillion Turkish liras ($1.48 trillion) in 2025, with expectations of rising to $1.84 trillion in 2026.

Yılmaz stated that the country’s medium-term economic program is focused on:

• Strengthening financial stability

• Restoring fiscal discipline

• Bringing inflation down to permanent single-digit levels

• Ensuring long-term price stability

Employment and Trade Outlook

The unemployment rate is forecast to decline to 8.5% in 2025 and further to 8.4% in 2026.

Highlighting the record-breaking performance in exports, Yılmaz said the government is confident in reaching its export target of $282 billion in 2026, maintaining the upward trend in foreign trade.

Budget and Defense Spending Projections

For 2026, Türkiye’s budget framework includes:

• $451.5 billion in total expenditures

• $387 billion in expected budget revenues

• $28.6 billion allocated to defense spending