His last prediction was accurate: Minimum wage forecast from a famous economist

Ahead of the Minimum Wage Determination Commission's meetings starting in December, millions of employees are wondering what the new minimum wage will be.

Economist Hikmet Baydar, in his assessment of the matter, stated that a raise rate that would stimulate the domestic market could be between 20 and 25 percent.

Baydar noted that although inflation expectations are set at 16 percent in the medium-term plan, the market expects inflation in the 22-23 percent band.

Emphasizing that this situation could make wage negotiations difficult, Baydar said that a 25 percent increase, in particular, could compensate for past losses.

According to Baydar, Mehmet Şimşek's statements that inflation will fall below 20 percent could make the negotiation process even more complex.

Recalling that HSBC's 30 percent prediction last year turned out to be correct and that they are forecasting a 20 percent increase this year, Baydar stated that an increase in the 20-25 percent range for the minimum wage is highly likely to occur.

The Minimum Wage Determination Commission will hold four meetings to determine the new minimum wage for 2026. The commission, consisting of representatives from workers, employers, and the government, will work without worker representatives this year. The first meeting will be held at the Ministry of Labor and Social Security, and the calendar will be determined. The commission is expected to announce the new wage by December 31, after evaluating economic data and the expectations of the parties. The new minimum wage will come into effect as of January 1, 2026.

News Source: 12punto