Economy

Proposal for 25% Minimum Wage Increase

November 1, 20241 Mins Read

As we approach the end of the year, all eyes are on the minimum wage. Comments on wage increases are starting to emerge from the real sector as well. Ankara Chamber of Commerce announced that the rate of increase should be around 25 percent. The President of Ankara Chamber of Commerce (ATO), Gürsel Baran, made an assessment on the upcoming minimum wage negotiations. Speaking at ATO’s regular council meeting in October, Baran stated, “We also want a higher increase in the minimum wage, but practices have shown that any increase there affects everything and prolongs the fight against inflation.” He highlighted that as discussions about the minimum wage arise with the approaching new year, it was brought to the attention of the public that Central Bank Governor Fatih Karahan mentioned during a meeting with investors in the USA that a 25 percent increase in the minimum wage would be in line with the inflation outlook for 2025. Baran expressed their belief that the increase in the minimum wage should be at this level as well.

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