The dollar reality of the minimum wage! Expert reveals: The mistake made has been exposed!
Tax expert Ozan Bingöl has exposed the errors made in calculating the minimum wage announced for 2024 in US dollars. Bingöl stated that the announcement of the minimum wage as 628 dollars does not reflect the reality, and that with the correct calculation, it actually corresponds to 526 dollars.
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Tax expert Ozan Bingöl, in a post on the social media platform X, criticized the calculation of Turkey's minimum wage in dollar terms.
Bingöl argued that claims stating the minimum wage had been increased from 126 dollars in 2002 to 628 dollars in 2024 do not reflect the truth.
'IT CORRESPONDS TO 526 DOLLARS'
In his post, noting that an incorrect method was followed in the calculations, Bingöl stated, "They are dividing the 2025 minimum wage amount by the 2024 exchange rate. However, according to the MTP (Medium-Term Program) determined for 2025, the dollar exchange rate is projected to be 42 TL. In this case, the minimum wage is not 628 dollars, but corresponds to 526 dollars."
Bingöl also drew attention to the comparison of the minimum wage with the per capita national income, stating that this comparison more clearly shows that minimum wage earners have lost out in real terms.
In the table shared by Bingöl, it was seen that the ratio of the monthly minimum wage to the per capita national income was 3.42 percent in 2022, and this ratio will fall to 3.09 percent in 2025.
Emphasizing that economic problems cannot be solved without accurate data and consistent analysis, Bingöl added:
"If calculation methods and data are not analyzed correctly, the real loss of the minimum wage earner can be ignored. This prevents the taking of correct steps toward solving the problem."
ERDOĞAN HAD SAID WE INCREASED IT TO 628 DOLLARS
President and AKP Chairman Recep Tayyip Erdoğan had made statements regarding the minimum wage at his party's group meeting yesterday.
While closing the doors to an additional raise despite expectations for such an announcement, Erdoğan had touched upon the increase in the minimum wage in dollar terms.
Erdoğan had used the following expressions: "We have once again remained loyal to our promise not to let our employees be crushed by inflation. The minimum wage, which was 184 TL in 2002, or 126 dollars in foreign currency terms, has risen to 628 dollars with the latest increase."