The Economic Coordination Board, chaired by Vice President Cevdet Yılmaz, has emphasized the importance of accelerating the pace of structural reforms in the government’s economic program. During the meeting, Finance Minister Mehmet Şimşek, Trade Minister Ömer Bolat, Energy Minister Alparslan Bayraktar, and Industry Minister Mehmet Fatih Kacır were present. The goal is to complete these reforms by the first half of 2024. Progress has already been made on 20 out of the 81 actions outlined in the program.
The discussion at the meeting also focused on agricultural production planning and the new support model. This involves setting target sufficiency ratios in strategic agricultural products to improve productivity and efficiency. Overall, the economic program is showing positive results with improvements in the current account deficit, international flows, reserves, and risk indicators.
The unemployment rate remains in single digits and there are expectations of a significant decline in annual inflation in the second half of the year due to tight monetary policy. The “Public Savings and Efficiency Package” introduced to strengthen fiscal discipline is expected to contribute to disinflation by increasing expenditure control and savings in the public sector. This will also direct investments to priority areas that support economic growth.
In conclusion, the government’s focus on structural reforms and economic stability is crucial for driving sustainable growth and development in Turkey.
