Turkey’s Vice President Cevdet Yılmaz Highlights Economic and Political Developments

Turkey’s Vice President Cevdet Yılmaz Highlights Economic and Political Developments

Turkey’s Vice President, Cevdet Yılmaz, made significant statements regarding the current economic and political situation. Yılmaz emphasized their commitment to implementing the Medium-Term Program (OVP) during a period marked by global growth falling below historical averages and rising regional tensions. He also highlighted the efforts to address the aftermath of the largest earthquake disaster in Turkey’s history that occurred last year.

According to Yılmaz, the government’s primary goal is to achieve sustainable and inclusive growth while maintaining political and macroeconomic stability. The objectives include reducing inflation and ensuring permanent economic prosperity.

Yılmaz noted that the Central Bank of Turkey’s (CBTR) reserves are at historically high levels and that significant improvements have been made in risk indicators, the current account deficit, and budget deficit beyond the targets set by the Medium-Term Program. He added that the confidence-building policies in both domestic and foreign affairs are reflected in the credit rating upgrades by rating agencies.

Furthermore, Yılmaz stated that the increased credit rating is expected to facilitate access to higher-quality financing for investment, employment, production, and exports. He underscored that, along with monetary and fiscal policies, they are robustly addressing the structural reform agenda. Concrete steps are being taken within the frameworks of the Economic Coordination Board (EKK) and the Coordination Board for Improving the Investment Climate (YOİKK).

Lastly, Yılmaz expressed their determination to lead the country into a strong future with an economic structure that increases value-added production and productivity. He emphasized their aim to further elevate the living standards of the nation.