Turkey’s Economic Size to Exceed 1.1 Trillion Dollars – Latest Update
Vice President Cevdet Yılmaz Outlines Turkey’s Economic Goals
Vice President Cevdet Yılmaz recently attended the Malatya Businessmen Association Meeting program, during which he spoke about Turkey’s economic ambitions and efforts to build resilience against natural disasters.
Yılmaz announced that Turkey is aiming to reach an economic size of over 1.1 trillion dollars by the end of 2024, which would position the country as the 17th largest economy in the world and the 11th largest economy in terms of purchasing power parity.
The Vice President emphasized Turkey’s determination to combat inflation, stating that the country has seen positive indicators as a result of the measures taken. He predicted a significant decrease in annual inflation in the second half of the year and expressed the goal of achieving single-digit inflation by 2026.
In addition to economic objectives, Yılmaz highlighted Turkey’s efforts to address natural disasters, particularly earthquakes. He revealed that the country allocated 960 billion liras for earthquake and rehabilitation in 2023, with plans to further increase the budget to 1 trillion 28 billion Turkish Liras in 2024. Yılmaz also detailed ongoing urban transformation initiatives and housing projects in the city of Malatya.
Overall, Yılmaz’s remarks underscore Turkey’s commitment to strengthening its economy and infrastructure, as well as its determination to achieve ambitious targets in the coming years.
