The Economic Coordination Board convened

The Economic Coordination Board (EKK) convened under the chairmanship of Vice President Cevdet Yılmaz.

Following the meeting, which lasted approximately 2.5 hours, a written statement was made regarding the issues discussed and the decisions taken.

In a statement, the Board stated that the sixth meeting of the EKK for 2025 was held today, and added, "With the program we have been implementing with determination for two years, a significant improvement has been achieved in macroeconomic indicators. In this period of increasing global uncertainties and protectionist policies, our macrofinancial stability has been strengthened, and our economy has gained a more resilient structure. The positive effects of the program are tangibly visible in many areas. Thanks to the strong and coordinated steps we have taken in the fight against inflation, annual inflation in July 2025 decreased by approximately 42 percentage points compared to May of last year. While growth has achieved a more balanced structure, employment has increased, and the unemployment rate has been in single-digit levels for 27 months."

Despite global uncertainties and geopolitical risks, exports have reached a historically high level. Thanks to the positive performance in exports and tourism, the current account deficit-to-national income ratio has declined to sustainable levels. International reserves have increased, and the country's risk premium has decreased. The Currency-Protected Deposit (CCD), a key contingent liability, has been terminated. The budget deficit-to-national income ratio has decreased, and fiscal discipline has been strengthened. "WE WILL DELIVER A STRONG ROAD MAP" It was stated that the achievements clearly demonstrate the effectiveness of the economic program, adding, "Within the scope of the program, structural reforms supporting monetary and fiscal policies continue to be implemented in line with the schedule determined with the strong coordination of our institutions."

It was stated that preparations for the Medium-Term Program (MTP) covering the 2026-2028 period are being carried out with a transparent and participatory approach, as in previous years, with the contributions of public institutions, the private sector, and civil society organizations. The statement continued, "Through consultations, we will put forward a strong roadmap aligned with Türkiye's needs and priorities. In light of these developments, at today's meeting, we discussed the latest status of the MTP (2026-2028) studies, and evaluated in detail key policy objectives, macroeconomic forecasts, and budget sizes. Structural policy areas and measures that will enable the achievement of the targets were discussed. In this direction, steps to be taken to strengthen macrofinancial stability, ensure price stability, accelerate the structural transformation in industry and the green and digital transformation, strengthen human capital, improve the business and investment environment, and encourage high value-added production and exports were comprehensively reviewed. The ultimate goal of the economic program we are implementing is to increase social welfare by achieving high, sustainable, and inclusive growth. The most important prerequisite for this is the permanent establishment of price stability." "During the Medium Term Program (MTP) period (2026-2028), we will resolutely continue our fight against inflation and will not compromise on fiscal discipline. With the vision of the 'Turkish Century,' we will continue to support value-added investment, employment, production, and exports, and take steps to improve the business and investment environment to ensure the permanence of the gains we have achieved in the economy."