Turkey to increase defense spending by 229 pct

Turkey plans to boost defense spending by 229 percent over the next three years, Turkish Vice President Cevdet Yilmaz confirmed on Sunday as he unveiled the country's three-year Medium-Term Economic Program for 2027-2029.



"In the defense industry, we aim for a Turkey that develops its own technology and produces high added value," Yilmaz said at a press conference.



Under the program, Turkey 2026 growth forecast was cut from 3.8 percent to 3.3 percent, while its inflation projection was raised from 16 percent to 28.4 percent.



The country's military spending reached 30 billion U.S. dollars in 2025, according to the Stockholm International Peace Research Institute.