Expectations rise for the 2025 minimum wage hike: Here are the possible figures...
As expectations regarding the 2025 minimum wage hike increase, the Minimum Wage Determination Commission will begin its negotiations in December. Employers are requesting a 25 percent raise. There is curiosity about what the new minimum wage will be. How much will the minimum wage be in 2025? How much will the gross and net minimum wage be in the new year? Here are the possible minimum wage figures...
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The Central Bank of the Republic of Turkey (TCMB) has raised its year-end inflation forecast by 6 points, from 38 percent to 44 percent.
The 2025 forecast was raised from 14 percent to 21 percent.
The 2026 forecast was also revised from 9 percent to 12 percent.
Different scenarios are coming to the agenda for the minimum wage hike. A 30 percent minimum wage increase has also been among the expectations.
The minimum wage was increased by 49.11 percent in January last year, rising to 17 thousand 2 Turkish Lira.
If a 25 percent raise is implemented in January, the new minimum wage will be 21 thousand 252 Turkish Lira.
When an increase is made at the rate of the Central Bank's 44 percent target, it will reach 24 thousand 483 Turkish Lira.
When a 21 percent raise, which is the TCMB's 2025 target, is implemented, it will rise to 20 thousand 572 Turkish Lira.
If a 26 percent raise, which is the 2025 upper band, is implemented, it will be 21 thousand 422 Turkish Lira.
If a 30 percent raise is implemented for the minimum wage, it will rise to 22 thousand 102 Turkish Lira.
If a 40 percent raise is implemented, the new minimum wage will reach the level of 23 thousand 802 Turkish Lira.
If a raise of 41.5 percent, the Medium-Term Program (OVP) inflation target, is implemented, it will exceed 24 thousand Turkish Lira.
If a raise of 17.5 percent, which is the 2025 inflation target in the OVP, is implemented, it will rise to 19 thousand 977 Turkish Lira.