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Market
Will Turkey's inflation rate exceed 50% in 2025?
3
Turkey•Turkish•Minimum Wage Determination Commission•Labor and Social Security•Vedat Işıkhan•Recep Tayyip Erdoğan
Resolution / Starting Odds
Yes • 50%
No • 50%
Inflation data published by the Turkish Statistical Institute
Story
Turkey Sets 2025 Minimum Wage at 22,104 Lira, TÜRK-İŞ Demands 29,583 TL
Dec 24, 2024, 05:40 PM
Turkey has announced a 30% increase in the minimum wage for 2025, setting it at 22,104 Turkish lira ($628) per month, effective from January 1. The decision was made by the Minimum Wage Determination Commission, which includes representatives from workers, employers, and the government. The announcement was made by Labor and Social Security Minister Vedat Işıkhan following the commission's fourth meeting. President Recep Tayyip Erdoğan also confirmed the new minimum wage, stating it would be beneficial for the country and its people. The increase aims to address the needs of over a third of the workforce in Turkey, amidst ongoing economic challenges including high inflation rates. However, TÜRK-İŞ, representing the workers, did not attend the meeting and has rejected the new minimum wage, arguing that it should be set at 29,583 TL. They also criticized the decision for being set for one year, stating that even a six-month period would be unacceptable.
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