Türkiye’s top economic officials convened Wednesday to discuss measures aimed at expanding the nationwide housing supply, according to an official statement, amid persistent pricing pressures in the real estate market.
The Economic Coordination Board (EKK) also reviewed the performance of the government’s nearly two-year-old economic program, which has primarily focused on tackling inflation, the statement said following the meeting.
Chaired by Vice President Cevdet Yılmaz, the board includes ministers of finance, trade, labor, energy, industry, and agriculture, along with senior officials from other key economic institutions, including the central bank.
Wednesday’s meeting marked the board’s fourth this year.
Aggressive monetary tightening since mid-2023, combined with favorable energy prices, has helped reduce Türkiye’s annual inflation rate by half over the past year.
The inflation lastly dipped to 35.4% in May, compared to around 75% a year ago.
The EKK emphasized that the disinflation process, which began in June 2024, remains on track. It credited the economic program with strengthening Türkiye’s macroeconomic foundations and enhancing the resilience and dynamism of the economy.
The board also evaluated structural reforms in the housing, food, and energy markets. Discussions included policies to improve Türkiye’s export competitiveness, in an effort to mitigate the economic impact of rising global uncertainty and trade protectionism.
The energy sector – one of the key contributors to Türkiye’s current account deficit – was another key industry assessed by the officials, who discussed policies to reduce external dependence and bolster supply security.
The board reviewed recent developments in housing and rental prices and considered concrete steps to boost housing supply, the statement noted. In recent years, affordability concerns have intensified for households amid soaring housing costs.
The EKK also underscored ongoing efforts under the new Investment Incentive System, which aims to promote value-added investments and foster regional development.
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