Central Bank Governor Fatih Karahan and his deputies' salaries are eye-watering

The salaries of the staff at the Central Bank of the Republic of Turkey (TCMB)—who played a significant role in ensuring that the minimum wage was increased based on targeted inflation rather than realized inflation, resulting in a minimum wage set at 22,104 TL with a 30 percent "misery raise"—are eye-watering.

According to a report by Erdoğan Süzer from Sözcü, TCMB Governor Fatih Karahan's salary rose to approximately 604,000 TL after receiving an 11.54 percent raise along with civil servants for the first 6 months of 2025. Karahan, who had a salary of 542,000 TL before the raise, saw his salary increase by 62,000 TL in January.

The salaries of Central Bank deputy governors Cevdet Akçay and Hatice Karahan also rose to approximately 506,000 liras. The salaries of deputy governors Cevdet Akçay and Hatice Karahan, which were 454,000 liras, increased by approximately 52,000 liras each to reach approximately 506,000 liras.

Governor Karahan and his deputy Cevdet Akçay had stated that it was the right time to increase the minimum wage by the target inflation rate, but they did not speak out against the 43.93 percent revaluation rate increase applied to taxes and fines, which exceeded twice the inflation forecast.

SOCIAL SECURITY INSTITUTION (SGK) PRESIDENT'S SALARY IS 140,000 TL

Furthermore, the salary of Raci Kaya, President of the Social Security Institution (SGK), which pays retirees a monthly amount below the hunger threshold, also increased by 15,000 liras to 140,000 liras. The salary of Erhan Çetinkaya, President of the Turkish Statistical Institute (TÜİK), which has trimmed salary raises with the low inflation figures it announces, also rose by approximately 10,000 liras to 93,000 liras. Last July, Çetinkaya had said, "I buy free-range chicken eggs, but 90 percent of society buys the cheaper 30-pack eggs."

THEY WILL ALSO RECEIVE A RAISE IN JULY

In addition to these salaries, Central Bank Governor Karahan, his deputy governors, and the presidents of the SGK and TÜİK will receive another raise next July, consisting of the inflation difference plus an additional 5 percent.

News Source: 12punto