No welfare share or flat-rate raise for retirees in July: Economic management shuts the door

The expectations of millions of retirees for awelfare share and a flat-rate raise in their salaries in Julyhave gone unfulfilled due to thetight monetary policy of the economicmanagement. Social SecurityExpert Emin Yılmaz evaluated the current economic picture andstated that suchincreases are notpossible in the nearterm.

“DO NOT EXPECT A WELFARE SHARE”

Emin Yılmaz stated that the austerity policies led by Treasury and Finance Minister Mehmet Şimşek, in particular, have left no room for salary increase demands. Yılmaz said, "I do not think there will be an improvement under the name of a flat-rate raise or a welfare share. The government's economic program is closed to this."

Yılmazcommented,“In past years, additional increases such as a welfare share were made in addition to the inflation adjustment. However, this is no longer possible. Within the framework of the economic program; inflation targeting, budget discipline, and spendingconstraintsare at the forefront. For this reason, the demands of retirees are not on the government's radar.”

MORE THAN 4 MILLION RETIREES ARE LIVING ON THE MINIMUM PENSION

According to the information provided by Yılmaz, there are approximately 16.5 million retirees in Turkey. At least 4 million 11 thousand of them currently have to make ends meet with the lowest pension of 16,881 TL. However, this figure grows even larger when we include widows and orphans.

While emphasizing that retirees are being crushed by economic conditions, Yılmaz said, “Retirees deserve these improvements to the fullest. However, economic realities and the administration's preferences stand against this. It is not realistic to expect steps such as a welfare share or a flat-rate raise for the next 2 years.”