Vice President Yilmaz,has been worked on for a long time new OVPHe emphasized that it includes updates in macroeconomic indicators. In the program inflation, growth, national income, exportsAnd tourismas follows macroeconomicfigures as well as budget their size, budget deficit, information such as expenditures and income will also be updated.
Yilmaz, OVP Updatedversion of ‘monetary policies, fiscal policies and structural reforms’He stated that it was prepared with a three-legged strategy under the headings.
Changes expected in inflation, growth and current stability
Dr. Harun Türker Kara, Ankara Medipol University Faculty Member,OVP’s inflation, current account deficitand other macroeconomicHe stated that he will bring updates to the variables. Türker Kara, “Inflation will progress on a path compatible with the Central Bank; moderate indicators and expectations will come to the fore in growth; and a more positive assessment will be made in current stability.”he predicted.
Savings and financial discipline will come to the fore
In the new OVP ‘ saving‘ title will hold a valuable place. Financial discipline, monetary policy and structural reforms, were determined as the main tools of the plan. Türker, “While the austerity measures taken and their future effects are being evaluated, harmony between structural reforms and development plans will be ensured”He used the expressions.
Critical signals for markets
The New Medium Term Program,It is of great importance in terms of providing a predictable roadmap for the public and private sectors. The updates are the next era for the markets. money PoliciesCritical about signalswill give. Details of the program, The President’sfollowing approval In the Official Gazettewill be published and shared with the public.
With the announcement of the new OVP economy in the worldattention was turned to the aims of the program and the strategies it included.
The Medium Term Program (MTP) is a roadmap containing the government’s 3-year goals and strategies for the economy. This program, prepared with the aim of ensuring economic stability in Turkey, determining growth targets and maintaining fiscal discipline, is renewed every year and announced to the public.
What is the goal of the Medium Term Program?
The Medium Term Program aims to improve the general outlook of the Turkish economy. The most important objectives of the program are:
Scope and content of the Medium Term Program
The MTP generally focuses on macroeconomic indicators. Among these indicators are:
How is the Medium Term Program prepared and announced?
The OVP was established by the Ministry of Treasury and Finance, through the Economic Coordination Board.and is prepared with the contributions of relevant ministries. The preparation process begins with the analysis of various economic parameters and making future claims. The final version of the program enters into force after being approved by the President and published in the Official Gazette.
What is the value of the Medium Term Program?
OVP, both publicas well as Private sectorIt functions as a forecasting tool for the economy. Economic actors shape their investments and plans according to this program. At the same time, it provides valuable signals about Turkey’s economic goals and stability for international investors.
Medium Term Programme updates and changes
The OVP is updated annually based on economic conditions. Government, reviews the targets in the program such as growth, inflation and budget deficit every year and makes necessary changes. These updates guide the markets and economic actors.
