Yılmaz: KKM Reset, Reserves Rise to $188.2 Billion

KKM Reset On August 28, 2026, Vice President Cevdet Yılmaz announced that the KKM had been fully reset and reserves had risen to $188.2 billion.
Medium‑Term Program Updates The OVP for 2027‑2029 is updated annually with macroeconomic, fiscal, and structural policies.
Yılmaz emphasized that public revenues, expenditures, and borrowing plans are made within this framework.
Global Economic Conditions Turkey is expected to fall below its early‑year production forecasts.
Growth in rural and industrial sectors is deemed critical for exports.
The war was noted to negatively affect regional trade conditions.
Trade and Energy The OVP projected a 2.4% growth rate for trade partners last year, but current data lowered it to 1.6%.
Brent crude was forecast at $64.3, but current estimates are at $89.3.
Economic Revisions The OVP's growth rate was revised from 3.8% to 3.3%, and industrial production expectations changed.
Inflation (TÜFE) forecast rose from 16% to 28.4%.
The projected trade deficit increased from $96 billion to $105 billion.
Yılmaz said these revisions result from global economic conditions and rising energy prices.