The year 2023 witnessed significant developments in the Turkish economy, particularly following the elections on May 14 and 28. Substantial changes in economic policies took place after these elections. The newly announced Medium-Term Program (2024-2026) aims to "strengthen macroeconomic and financial stability, promote high-value-added production, achieve growth through productivity and export increase with a focus on green and digital transformation, ensure permanent improvement in the current account balance, reduce inflation to single digits in the medium term, improve the business and investment environment, and establish a policy framework that prioritizes maintaining financial discipline while effectively combating disasters."   Clearly, achieving these goals will require the implementation of numerous actions in the economy.   Key Objective: Inflation Reduction   Reducing existing inflation is identified as the fundamental objective, given that price stability is a crucial condition for economic and financial stability. The Central Bank has implemented interest rate hikes as part of tightening measures, raising the policy rate to 42.5% in the Central Bank's December meeting. Streamlining and Reducing FX Dependency   Several regulations have been put into effect to encourage the increase in the share of TL deposits in the banking system, aiming to reduce dollarization and streamline the CBT (Central Bank of the Republic of Türkiye).   Risk Premium and Credit Rating Agencies' Ratings   Risk premium and credit rating agencies' ratings are among the most crucial indicators in the economy. Thanks to implemented economic policies, the risk premium is at its lowest level in the last three years, hovering around 278 basis points. While there has been no change in the credit ratings assigned to Türkiye by credit rating agencies, positive outlook improvements made by these agencies suggest a significant change in credit ratings may be anticipated.   Export and Current Account Balance   Export is a crucial macroeconomic indicator in Türkiye, accelerating economic growth and contributing significantly to an improvement in the current account balance. The new Medium-Term Program emphasizes the promotion of high-value-added production and achieving economic growth and permanent improvement in the current account balance through increased exports.   In my next article, I will discuss expectations for the economy in 2024.