MTP 2022-24: Some quick reactions

TURKEY - Report 06 Sep 2021 by Murat Ucer

The government released the Medium-Term Program (MTP) for 2022-24 last night. On a symbolic note, the document’s old name has been restored, in what looks like an attempt to break with the two awful years of economic management under the “New Economy Programs”.

A detailed table with basic macro aggregates can be found below. Our “big picture” comment is fairly basic, and is probably largely agreeable to our readership: there is a fundamental internal consistency in forecasts in the sense that Turkey cannot possibly grow at around 5-5.5%, as the current account deficit (CAD) decelerates to 1% of GDP by the end of the program period.

Now read on...

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