The Central Bank has raised its year-end inflation forecast for 2023 from 58 percent to 65 percent, and for the end of 2024 from 33 percent to 36 percent.
Following the CBRT's inflation forecast, expectations for the 2024 minimum wage have also increased.
Former Deputy General Manager of Ziraat Bank, Şenol Babuşcu, shared his calculation regarding the minimum wage.
HOW MUCH WILL THE MINIMUM WAGE BE?
Stating that the 4-month (July-August-September-October) inflation figure is 29.40 percent, and that the 6-month inflation is expected to reach 37-38 percent with the inflation for November and December, Babuşcu noted that the minimum wage is expected to increase by more than this rate due to the local elections.
Babuşcu said, "If there is a 40 percent increase in the minimum wage, it is expected to be approximately 16,000 TL net, and if there is a 50 percent increase, it is expected to be around 17,000 TL."
What is the expected minimum wage in TL?
— Şenol Babuşcu (@senolbabuscu) November 6, 2023
The 4-month (July-August-September-October) inflation figure is 29.40%. The 6-month inflation is expected to reach 37-38% with the inflation for November and December.
The minimum wage is expected to increase by more than this rate due to the local elections.…
News Source: 12punto
