Economists Say New Economic Program 'Far From Convincing'

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Several economists have tweeted on the New Economic Program (NEP) that was announced by Minister Berat Albayrak this morning (September 30).

Mustafa Sönmez said that the targets stated in the program do not have "internal consistency". He pointed out that the minister foresees a 5 percent growth in three years in a row while he is "quite stingy" in unemployment.

Saying that the inflation targets are far from convincing, the economist added, "Most importantly, he overlooks the İstanbul earthquake and the destruction it will cause!"

"I am more and more convinced to this: The 'fabricated economic world' that Berat Albayrak presents is not to convince us but his father-in-law," said Uğur Gürses, a financial columnist.

Yusuf Gökhan Özbakış, another economist, said, "In the previous program, there was a target of 3.5 percent growth with a current deficit of 2.7 percent of the national income. In this program, 5 percent growth is targeted with a 1.2 percent current deficit. A very, very ambitious target for 2020. I wish we were such a country, I'd really like that." (RT/VK)