SGK expert delivers bad news regarding minimum wage hike: Mehmet Şimşek may break 2-year tradition

As high inflation, the dollar exchange rate, and the cost of living erode the Turkish Lira day by day, millions of employees have turned their eyes to the minimum wage hike to be made at the end of the year.

While the rate of the hike to be applied to the minimum wage in 2024 is awaited with curiosity, it has been stated that Treasury and Finance Minister Mehmet Şimşek will not bring the mid-year adjustment, which has been implemented for 2 years, to the agenda this year.

MID-YEAR ADJUSTMENT IMPLEMENTED FOR 2 YEARS MAY BE OFF THE AGENDA

Social Security (SGK) Expert Özgür Kaya stated on a live broadcast on CNN Türk that the mid-year adjustment to the minimum wage, which has been implemented for 2 years, may be off the agenda this year. Kaya noted that the Ministry of Treasury and Finance is preparing for a one-time hike in 2024.

SGK Expert Kaya continued his words as follows:

"When we look at the six-month inflation at the end of the year, we will see levels of 38 percent to 40 percent. When we add the welfare share announced by the government, we can more or less estimate how the minimum wage hike made in 2024 will be.

A ceiling wage may be in question. We can say that the minimum wage will be at the level of 17 thousand TL - 18 thousand TL.

The Minimum Wage Determination Commission will meet in December and determine the January 2024 minimum wage.

"ONE-TIME HIKE"

The issue of tax regarding the minimum wage is not on the agenda; stamp duty and income tax have been abolished.

When we look at the Treasury and Finance administration, we can see that there will be a one-time hike to the minimum wage in 2024, not twice. The statements are in this direction."

News Source: 12punto