Türkiye has proposed a 2027 budget of approximately 27.28 trillion Turkish lira ($550.8 billion), focusing on reducing inflation and boosting housing investment and economic growth. Vice President Cevdet Yılmaz announced that the budget aims to enhance economic resilience while supporting investment and improving living standards amid challenging global economic conditions. The proposal is set to be submitted to Parliament shortly.
The government anticipates the economy will grow by 4.2% in 2027, an increase from the projected 3.3% in 2026, with growth expected to gradually reach 5% by 2029. This economic expansion is forecast to be driven by improvements in productivity, technological innovation, and increased investment. Employment is projected to rise by 657,000 in 2027, and the unemployment rate is expected to drop to 8%. The government also aims to lower annual inflation to 21% by the end of 2027, down from a forecasted 28.4% at the end of 2026.
Yılmaz identified price stability as a central priority, highlighting initiatives in social housing and food supply as essential measures to alleviate inflationary pressures. The budget deficit is expected to reach 3.5% of GDP in 2027, while the government plans to maintain a primary budget surplus. The current account deficit is projected to fall below 2% of GDP next year as authorities strive to boost exports and reduce reliance on imported energy.
Additionally, the government plans to bolster energy security and promote sustainable economic growth through investments and structural reforms. These measures are intended to support Türkiye’s long-term economic resilience and stability in a volatile global market.