Exporters veto mid-year minimum wage hike: 'Let's all pay the price together'

While the eyes and ears of millions of citizens are turned to the discussions on a mid-year minimum wage hike, Turkish Exporters Assembly (TİM) President Mustafa Gültepe has also joined the debate.

"WE WILL RETURN TO THE OLD SPIRAL"

Speaking to Bloomberg HT, TİM President Gültepe said, "If there is a mid-year hike, we will return to the old spiral. We need to get rid of this spiral by paying a price together for 2-3 months."

Emphasizing that costs need to be reduced, Gültepe continued his remarks as follows:

“One of the biggest things fueling inflation is costs. Opportunists in the market are taking advantage of input costs to raise prices excessively. Inflation will peak in May and June, as announced by Treasury and Finance Minister Mehmet Şimşek, and then it will trend downward. The important thing is to bring inflation expectations down by keeping input costs under control. Minister of Labor and Social Security Vedat Işıkhan had also made a statement on this matter. I do not think there will be a mid-year hike; if there is a mid-year hike, we will return to the old spiral. We need to get rid of this spiral by paying a price together for 2-3 months.”

News Source: 12punto