Erdoğan Announces Significant Changes in Minimum Wage and Pension Payments
During his return from his visit to Brazil, President Erdoğan addressed questions from journalists on the plane, making important announcements regarding minimum wage and pension payments.
As the end of the year approaches, everyone’s attention is focused on the increase in salaries for both workers and retirees. However, President Erdoğan emphasized that the key issue is the purchasing power of the people. He pointed out that there has been a decrease in inflation, and the question now is how this decrease will impact the lives of both workers and retirees.
“Our goal is to permanently increase the purchasing power of all sectors of society. This can be achieved by reducing inflation to single digits in a sustainable manner. We had anticipated the first year as a transition to disinflation. Since May, there has been a decrease in inflation, and this trend will continue. By 2025, the delayed effects of monetary policy, the reduction of budget deficits in fiscal policy, and the alignment of prices within the framework of budget possibilities according to the inflation target will continue to reduce inflation.”
Commitment to Protecting Purchasing Power
President Erdoğan highlighted the government’s commitment to ensuring that inflation does not erode the purchasing power of the people. He mentioned the significant increases in minimum wage in the past years, stating, “Last year, we gave our minimum wage workers a raise of 107.5%. The inflation rate was 65% last year. This year, we provided a 49% raise. As of October, the inflation rate is below 49%. According to the estimates of our Central Bank, we will finish the year with a rate of around 44%. In summary, we will not allow inflation to erode the purchasing power of our retirees, civil servants, or minimum wage workers. This has been our approach for the past 22 years, and it remains the same this year.”
He also addressed the criticism from the opposition, stating, “The opposition is exploiting this issue, but we will continue to act within the same principles in the coming period and treat our workers in a way that protects their purchasing power above inflation. However, the main goal is to sustainably reduce inflation. The inflation rate for essential goods purchased by citizens is around 28.5%, while for goods including fruits and vegetables, it is around 40%. The inflation rate is currently higher in services such as rent and private education. Inflation has entered a downward trend, and hopefully, it will continue in this direction.”
Plans to Address Rising Red Meat Prices
President Erdoğan also addressed the soaring prices of red meat due to recent increases. He announced plans to take further steps to address this issue, stating, “We are planning to take a new step. This involves importing cattle to improve access to red meat at better prices. I have instructed our Minister of Agriculture and Forestry, Ibrahim Yumaklı, to consider importing cattle from Uruguay and Brazil to ensure that citizens can access red meat at the prices they expect. We will evaluate this and take these steps.”
In conclusion, President Erdoğan’s announcements regarding minimum wage, pension payments, and measures to address rising red meat prices reflect the government’s commitment to protecting the purchasing power of the people and reducing inflation in a sustainable manner. These initiatives aim to improve the quality of life for all citizens and ensure economic stability in the country.
