Hope for a raise for retirees and minimum wage earners... All eyes on July and June: Here are the figures being discussed behind the scenes

The inflation rate to be announced in July will determine the salary increases for millions of SSK and Bağ-Kur retirees. The 6-month inflation data, which the Turkish Statistical Institute (TÜİK) will announce on July 3, will directly affect the raise retirees will receive.

LEGAL REGULATION REQUIRED FOR A RAISE

According to a report by the Türkiye newspaper, a legal regulation must pass through Parliament for the lowest pension to be increased by the inflation rate.

If the government takes action on this matter, the relevant legal amendment could be made before Parliament goes on recess. A similar process took place last year, and with a law enacted in July, the lowest pension was increased by 25 percent.

Although the possibility of a similar regulation is being discussed this year, it is stated that there is currently no concrete preparation for this within AKP circles.

PROBABILITY OF AN INTERIM MINIMUM WAGE HIKE IS LOW

In addition to retirees, minimum wage earners are also expecting a raise. However, a negative statement regarding a minimum wage increase has come from the government front.

Minister of Labor and Social Security Vedat Işıkhan stated that it is still too early for an interim raise in the minimum wage. AKP President Recep Tayyip Erdoğan, on the other hand, stated that necessary steps could be taken if there is a significant deviation in inflation.

Despite this, in light of current economic indicators, the government and AKP officials view the possibility of an interim minimum wage hike as low.

DECISION TO BE MADE IN JUNE

According to what is being discussed behind the scenes, the final decision regarding the minimum wage is expected to be made within the month of June.