Vice President Cevdet Yılmaz answered the questions after the Cabinet meeting held yesterday at the Presidential Complex.

Noting that the Strategy and Budget Department carries out the technical aspect of the Medium Term Program (MTP), Yılmaz said that they will listen and discuss their results in the last days of August.

Stating that they also held consultations with stakeholders in the sector and NGOs this year, Yılmaz said, “We have entered a new era, because we call it the Century of Turkey. We are in the post-earthquake period, hence a new era. This will be a distinguishing feature of this MTP from past MTPs.” said.

“You can think of OVP with three legs”

Stating that the MTP will have more structural transformation dimensions, Yılmaz said, “You can think of the MTP as three-pronged. There is a general framework of monetary policy. Its details are in the hands of the Central Bank. The details of the fiscal policy are in the MTP, the figures in the budget, they are all there. A And of course, it will include structural transformations as the third pillar.” he said.

Yilmaz continued:

“Of course, when we talk about preparations in this inclusivity, we do not mean daily change. More radical changes are what we call structural reform. Changes and transformations that will increase competitiveness, increase productivity, and bring Turkey to a more advantageous position in the world. It will cover many areas from tax reform to transformations in education. In the field of law, especially It will cover all kinds of radical changes from changes concerning the economy to improving the investment environment, improving efficiency, competitiveness and the potential of the economy.

“We have finished some of the consultations”

Stating that they can announce the OVP in the first 10 days of September, Yılmaz said that this partly depends on the course of the studies.

Stating that they have finished some of the consultations, Yılmaz said, “We met with the business world, we talked with the workers, we talked with the civil servants and accountants. Now we have a meeting with the representatives of the agriculture and finance sector. We will have a meeting with the TZOB and the union presidencies. We haven’t been able to determine the date yet, but we will have a meeting with the agriculture sector in a short time. We plan to meet with our minister.” said.

Stating that they will hold the meeting with the finance sector on Friday at the Istanbul Finance Center, Yılmaz said, “The Banks Association, public-private sector representatives, bank general managers, and therefore important actors representing the finance sector. Their outlook and expectations for the next three years will be discussed. We are also thinking of an organization with TOBB, and they will invite presidents from all provinces, maybe we will allocate a full day, and we will have received the expectations of the problems of all provinces and regions.” he said.

Stating that there was a presentation about the MTP in the cabinet, Yılmaz said that he presented the prominent issues related to the work they have done so far.

“Our perspective is single digit inflation”

Yilmaz said:

“We already determine growth, employment and it jointly with the Central Bank. The government and the Central Bank set the inflation targets together in the medium-term program. It has already been a recent update, so we should not expect a major update from now on. We will do it in the perspective of 2026. Therefore, until 2025. maybe minor updates, but the real thing will be clarified with the 2026 MTP and our perspective there is single digit inflation.”

“(Tax reform) Some work needs to be done in this direction”

Stating that he supports the common demand of employers and workers to increase direct taxes and decrease indirect taxes, Yılmaz said, “Some studies need to be done in this direction in the upcoming period. This is not an increase or decrease in taxes. This tax system should be modernized, updated, simplified, more balanced. Let’s say it’s done.” said.

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