Turkey: Development plan projects near-nil inflation, 65% income increase in five years

Turkey's development plan for the next five years foresees a near-zero inflation by 2028.

The development plan for 2024-2028 was conveyed to the Presidency of the Turkish Grand National Assembly on Monday. The plan projects an inflation rate of 4.7% in 2028, down from 64.3% at the end of 2022, and a per capita income of $17,554, up from $10,655.

Turkey's share in global exports is expected to increase by 30% in the next five years, according to the plan, as tourism income is expected to climb up to $82.8 billion, from $46 billion at the end of 2022, signifying an increase of 80%.

In the section on "service of justice," a pledge in the previous plan to "play an active role in shaping the decisions" of the European Court of Human Rights was left out.