Employers call for a mid-year minimum wage hike in July

Young Entrepreneurs and Governance Association (GGYD) President M. Nezih Allıoğlu drew attention to the difficulty of economic conditions and expressed the necessity of an inflation-indexed increase in the minimum wage in July. Allıoğlu stated that the purchasing power of households has weakened and that the cost of living is a major agenda item for a large segment of society. For this reason, he emphasized that steps taken to protect the purchasing power of low-income groups are important for economic and social balance.

According to the report by Sözcü, Allıoğlu argued that the announced 30 billion TL Credit Guarantee Fund (KGF) support should be increased, stating, "A possible interest rate cut or a loosening of credit limits in June could create positive effects. However, if these steps are not taken, the effects of the current economic contraction will continue to be felt." Noting that even the ISO 500 companies are experiencing difficulties, Allıoğlu stated that SMEs are facing even greater challenges. He drew attention to the importance of maintaining economic stability and a climate of confidence.

SALES IN THE AUTOMOTIVE SECTOR ARE INCREASING

Touching upon the automotive sector, Allıoğlu stated that sales could continue to rise in 2025. Reminding that all-time high sales figures were reached last year, Allıoğlu said that automobile and light commercial vehicle sales in the first four months of this year increased by 2.7 percent compared to the same period last year. Expressing that vehicle sales continue without slowing down despite high loan interest rates, Allıoğlu said, "The expectation that vehicle prices will increase further is effective in the rise of sales." He predicted that automobile and light commercial vehicle sales at the end of this year could be higher than last year.