Vowing to overcome the cost of living issue with ‘realistic and grounded policies’, Yilmaz said the government’s priority is to rebuild cities destroyed by the earthquakes.

The government has allocated TL 1.03 trillion ($37 billion) in its 2024 draft budget to meet the cost of earthquake-related damage and the needs of people in the region, Yilmaz told a news conference in Ankara.

The government expects economic growth of 4.4 per cent this year and 4 per cent next year, he was quoted as saying by Turkish media reports.

The country’s economy grew by 3.9 per cent in the first half this year and has differentiated itself positively among the Organisation for Economic Cooperation and Development (OECD) member countries, he said.

The medium-term programme was put forward at the beginning of September, Yilmaz added.

The country’s 12th Development Plan, set to be presented in the parliament, consists of five main axes: qualified people, strong families and healthy society; stable growth and a strong economy; competitive production with green and digital transformation; disaster-resistant living spaces and sustainable environment; and democratic governance based on justice, President Recep Tayyip Erdogan said.

The aim is for a stable and balanced growth of 5 per cent on an average, he said.

“We aim to reach a national income of $1.59 trillion and income of $17,554 per capita in 2028,” he added.

Fibre2Fashion News Desk (DS)