Turkey halves economic development targets for 2023: report

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Photo by M. B. M. (Unsplash)

Turkey has virtually halved its economic development targets for 2023 in a new five-year development plan released by the presidential strategy and budget office on Monday, according to Doğruluk Payı, a news fact-checking website.

The new plan foresees GDP at $1.1 trillion, per capita income at $12,244, exports at $226.6 billion and unemployment at 9.9 percent.

In 2013 the targets were $2 trillion, $25,000, $500 billion and 5 percent, respectively.

Although the 2023 target for inflation in 2013 approached single digits, the new goal is 5 percent.

Turkey has been preparing five-year economic development plans since January 1963. In 2023 the Turkish Republic will celebrate the 100th anniversary of its founding.

Turkey’s current GDP is around $784 billion, while per capita income is below $10,000, exports are $168 billion, the unemployment rate is 14.1 percent and inflation decreased last month to 15.7 percent.

The new plan was submitted to the Turkish parliament on Monday.

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