New figure emerges for millions of workers: A new clue for the minimum wage hike

The year-end inflation forecast of 41.5 percent determined within the scope of the Medium-Term Program (OVP) also points to a significant increase in the minimum wage.

At the Minimum Wage Determination Commission meeting to be held in December, inflation data will play a critical role in determining the new minimum wage, which millions of employees are eagerly awaiting. If the projected inflation rate is realized, the net minimum wage is expected to reach 25 thousand TL.

The Central Bank's forecasts and assessments from various institutions indicate that year-end inflation will be in the range of 40 percent to 49 percent. In the most recently announced Medium-Term Program (OVP), the inflation forecast for this year was revised to 41.5 percent.

According to calculations made in this direction, the 6-month inflation rate is projected to be 13.44 percent.

This rate will be an important indicator, especially for salary increases for retirees and civil servants. However, millions of people working for the minimum wage have also turned their eyes to the inflation figures.

Although the minimum wage is not directly determined by inflation, the Minimum Wage Determination Commission considers inflation an important criterion. Since there was no mid-year adjustment in 2024, the annual inflation rate will be even more decisive when determining the minimum wage this year.

If the 41.5 percent inflation projected in the Medium-Term Program (OVP) is realized, the new minimum wage could rise to a gross level of 28,303 TL and a net level of 24,058 TL. According to a report on Mynet, this indicates that the net minimum wage could reach the 25,000 TL level, while the gross wage could rise to 30,000 TL.

The Minimum Wage Determination Commission, which meets every December, determines the new minimum wage by evaluating inflation and cost-of-living indices with a 15-member delegation consisting of representatives from workers, employers, and the government.

While Türk-İş represents the workers and TİSK represents the employers, the government is involved in the process as an arbitrator. In the post-pandemic period, minimum wage increases, which were previously implemented twice a year, were only carried out once for 2024, and no mid-year raise was granted.