Employers agree with the CBRT Governor, the first figure is in: Here is the 'desired' raise rate!

The Ankara Chamber of Commerce (ATO) October Ordinary Assembly Meeting was held with the participation of ATO Assembly Members, chaired by Assembly President Mustafa Deryal. Speaking at the meeting held in the ATO Assembly Hall, ATO Board Chairman Gürsel Baran provided information about the board's activities and evaluated current economic developments.

Noting that Turkey's growth forecast was revised down to 2.7 percent in the International Monetary Fund's (IMF) world economic outlook report, Baran said, "The report stated that a tight policy should be followed in interest rates to achieve inflation targets, and that interest rate hikes should even be on the agenda if necessary." 

Stating that the report also included the need to reduce energy imports and focus on renewable energy investments to lower the current account deficit, Baran said that attention was also drawn to the impact of the minimum wage increase on inflation.

Reporting that minimum wage discussions have come to the agenda with the approach of the new year, Baran said, "Central Bank Governor Mr. Fatih Karahan gave the message in his meeting with investors in the United States that a minimum wage increase of around 25 percent would be consistent with the 2025 inflation outlook. 

We are also of the opinion that the raise to be made to the minimum wage should be at this level. We know the difficulties our fellow employees are facing due to inflation. We know what the struggle for livelihood is. 

However, we also know what our struggle to keep businesses afloat is. We would also like a higher raise for the minimum wage, but practices have shown that a raise there is reflected as a price hike on everything from A to Z, and this prolongs the process of fighting inflation. 

We need to bring inflation down to single digits as soon as possible and get back on the path of growth and development," he said.

Thus, the figure desired by the employer side has become clear.

If a 25 percent raise is approved, the minimum wage will be 21 thousand 252 TL. 

WHAT HAPPENED?

Central Bank of the Republic of Turkey Governor Fatih Karahan gave a percentage for the minimum wage in his statements to investors in the US. 

Minister of Treasury and Finance Mehmet Şimşek had said, "The minimum wage is determined as a result of negotiations between unions, employers, and the government. It would not be appropriate for me to comment at this stage."