Expert weighs in: Will there be an additional raise in July? He delivered the bad news

As the cost of living deepens, whether there will be a new raise for the minimum wage and pensions in July remains a subject of curiosity. Speaking to Sözcü TV, Economist Mahmut Aydoğmuş emphasized that, contrary to expectations, it does not seem likely that the government will make any improvements to the minimum wage or the lowest pension.

“NO ADDITIONAL STEPS BEYOND STATUTORY INCREASES”

Aydoğmuş stated that SSK and Bağ-Kur retirees will receive an inflation adjustment of around 18 percent in the second half of the year, while civil servants and civil servant retirees will benefit from an increase of approximately 17 percent. However, he noted that these raises are increases determined by existing laws and that the government is not planning any extra regulations.

NO INCREASE EXPECTED IN MINIMUM WAGE

Stating that in light of current economic data, a raise in the minimum wage in July is a very low probability, Aydoğmuş also expressed that the lowest pension, which is 14,469 TL, will remain fixed.

CENTRAL BANK'S INFLATION TARGET DEEMED OPTIMISTIC

Aydoğmuş stated that he does not find the Central Bank's year-end inflation target of 24 percent realistic. Noting that the inflation felt by citizens on the street is much higher, the economist said, “There is an expectation at the 60 percent level. Technically, 24 percent is not possible.”

Pointing out that the upper band of 29 percent in the inflation report shows that the Central Bank's real target is to “stay below 30 percent,” Aydoğmuş drew attention to the fact that even this target is at risk.

Stating that the risk of agricultural frost has not yet been reflected in prices, Aydoğmuş predicted that this effect will be felt in the summer months and will increase inflation by at least 3-4 percent.

News Source: 12punto