Turkey's Treasury and Finance Minister Berat Albayrak announced the country's economic Medium-Term program on Thursday. The ministry has cut its growth forecast as it battles a currency crisis. CGTN's Michal Bardavid has the details.

MICHAL BARDAVID ISTANBUL "The Turkish Lira has lost about forty percent of its value this year. The government has been taking action with the latest measures coming from the finance ministry. On Thursday the Turkish Treasury and Finance Minister Berat Albayrak announced details of the much anticipated economic Medium-Term program. The biggest emphasis was on a revised growth forecast – which is now set for 2.3 percent in 2019 – down from 3.8 this year. But Albayrak said he expects healthy growth in 2020 and beyond."

BERAT ALBAYRAK TURKISH FINANCE MINISTER 'We will clearly see a gradual increase of gross domestic product from now on. We will ensure growth on a healthy and sustainable path with the strategies and measures foreseen in this program. Our main goal will be to maintain sustainable growth on a solid basis by achieving 3.5 percent growth in 2020 and 5 percent growth in 2021."

MICHAL BARDAVID ISTANBUL "Another issue for Turkey is its inflation, which rose nearly 18 percent in August. The new program forecasts that inflation could top 20 percent this year but would be brought below 10 percent in 2020. Albayrak also emphasized that Turkey will focus on investments in tourism, especially health tourism but also in pharmaceuticals and energy. The minister also vowed to create two million jobs and bring the unemployment rate down to 10.8 percent by 2021."

Michal Bardavid, CGTN. Istanbul.