Treasury and Finance Minister Nureddin Nebati said the government would continue to pursue policies that prioritize economic growth and jobs in 2023, a year he said would see a further drop in inflation and an increase in household income.
The growth is seen helping GDP per capita exceed $10,000 in 2022, the minister noted, a figure that tops the government’s target set in the Medium Term Program (MTP).
“We predict that our per capita income will hopefully rise even higher and reach over $12,000 in 2023,” Nebati said.
On tourism, he said around 51.5 million foreign visitors are expected to have arrived in Türkiye in 2022, while the tourism revenues are seen coming in at a total of $46 billion.
Nebati said the current account, excluding energy and gold, reached a $51.3 surplus as of November 2022, an increase of $14.3 billion versus 2021.
Nebati also cited the increase in global commodity prices that was experienced last year, the continuation of supply chain disruptions and high inflation.
He said that the downward trend in inflation that started in November would continue.
The consumer price index (CPI) in Türkiye decelerated at its steepest pace in more than a quarter century in December 2022.
Annual inflation fell sharply to 64.27% in December from the 84.39% reported in November 2022. The decline was driven mainly by the so-called favorable base effect and marked a second straight fall after inflation hit a 24-year high of 85.5% in October.
The decline is expected to become more pronounced in the first quarter of this year and is expected to drop to as low as 40% by mid-2023.
