Purchasing Power Parity (PPP) is defined as the price ratio of a standard basket of goods and services in different countries. According to the Organization for Economic Co-operation and Development (OECD), International Monetary Fund (IMF), and Eurostat, three distinct PPP measurements exist.
Turkey has reportedly been successfully progressing towards convergence with developed countries since 2002. In 2002, per capita income in PPP terms, as defined by the OECD, was $9,279. This figure rose to $42,529 in 2023. The convergence rate with the OECD average increased from 35% in 2002 to 72% in 2023.
On the other hand, per capita income in PPP terms, as defined by Eurostat, was €7,605 in 2002. This figure quadrupled by 2023, reaching €27,600. The convergence rate with the EU average increased from 38% in 2002 to 73% in 2023.
Turkey’s Vice President Cevdet Yılmaz stated, “Our goal is to maintain our development with stability and exceed the 100% mark. The transformations we will achieve during the four-year election-free period will greatly contribute to reaching this goal.”
Source: Statements by Turkey’s Vice President Cevdet Yılmaz.