Here are the 4 strongest scenarios in the minimum wage… The expert explained! Here are the expected raise rates

Bigpara News Center

Created Date: November 14, 2024 09:57

Negotiations regarding the increase in the minimum wage, which concerns everyone from employees to managers in Turkey, have not started yet. Although the meeting dates of the Minimum Wage Determination Commission have not been determined, predictions for the planned increase have begun to come to the fore.

Work has not yet started on the increase in the minimum wage, which will directly and indirectly affect millions of people. It is expected that the Minimum Wage Determination Commission will hold its meetings in December and announce its final decision.

Before the minimum wage increase was determined, predictions began to be made. Estimates start from 20-25 percent and can range between 41.5 percent and 46 percent, which is the year-end inflation rate predicted by the Medium Term Program and the Central Bank.

Social Security Specialist Murat Bal, who made a statement on CNN Turk, said that the minimum wage should be increased by adding a welfare share to the year-end inflation rate.

Bal’s statements are as follows:

Especially the inflation rate is very important. When the commission meets, the working class will come to the table with inflation. We are writing these scenarios, and reports are coming from foreign credit ratings and large banks that there should be increases in line with the targeted inflation, not the actual inflation. I think there will be an increase based on the actual figures. In fact, I think that a share of welfare should be added to these. The inflation expectation has been increased to 44 percent. While the inflation expectation is in the range of 42-44, a salary increase lower than this will create a negative impact on the minimum wage.

I think there should also be a share of welfare. The impact of inflation was felt. We are talking about the segment of people who earn the least income, it would be like to leave the burden of the entire economic hardship on them.

It is also necessary to maintain balance. The cost to the employer increases. While we are talking about salary increases, we will soon hear news that the on the shelves have changed. There may also be government support.

I estimate that the commission will announce the increase rate for the minimum wage in mid-December. I think the minimum wage will be determined annually in 2025.