Minimum wage forecast from economist Şeref Oğuz

Vice President Cevdet Yılmaz has announced the new Medium-Term Program (OVP) covering the 2025-2027 period. In the OVP, which includes the government's forecasts for inflation, exchange rates, growth, and unemployment, the 2024 inflation target has been raised from 33 percent to 41.5 percent.

Evaluating the announced OVP data, economist Şeref Oğuz made predictions regarding an early election and the minimum wage. Stating that he sees an early election in the OVP, Oğuz predicted that with the current inflation forecast, the government would raise the minimum wage to 20,000 TL in January.

"I FORESEE AN EARLY ELECTION IN 2025 OR 2026"

Oğuz said, "The OVP is a stalling tactic, a wish list. The economic portion of the OVP does not promise a better Turkey. When I look at the growth line of the OVP, I see an early election. I foresee an early election in 2025 or 2026."

Oğuz continued as follows:

"The OVP is saying, 'Until the election, I will keep both the exchange rate and the minimum wage hovering around the TÜİK inflation rate; in 2025, I will give you a raise of around 17.5 percent, and I will make the minimum wage 20,000 TL. I will keep it flowing in 2026. Why? Because we are heading to the ballot box.'"