The eyes of millions of workers are turned to the upcoming increase in the minimum wage… The amount of the increase was asked to the Minister of Treasury and Finance Mehmet Şimşek and the Central Bank Governor Fatih Karahan in the United States. As the end of the year approaches, attention is focused on announcements regarding the minimum wage.
Minister of Treasury and Finance Mehmet Şimşek continues his contacts in the United States.
IMF proposal to Turkey for minimum wage: It should be determined with forward-looking approaches. He made evaluations at a meeting organized by the International Financial Institute. Minister Şimşek emphasized that their priority is to ensure price stability, stating, “We have made great progress in some areas.” When asked about the minimum wage, Şimşek 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.”
Stressing the need to maintain competition in the minimum wage, Şimşek said, “I am sure that unions, employers, and the government will be sensitive to maintaining the competitive strength to a certain extent.” In addition to Minister Şimşek, Turkey’s Central Bank Governor Fatih Karahan is also accompanying in the United States.
According to Bloomberg’s report, Karahan was also asked about the minimum wage at an investor meeting he attended. Karahan expressed that an increase of around 25% would be in line with the inflation outlook.
The minimum wage determination commission will start its work in December. The announcement of the new wage is expected before 2025.