Minister Şimşek: “Minimum Wage Will Increase Above Inflation”

Treasury and Finance Minister Mehmet Şimşek provided important messages regarding the minimum wage in a recent statement. Şimşek noted that “the minimum wage will likely be above inflation,” indicating that steps to preserve the purchasing power of citizens will continue.

While speaking in the General Assembly of the Turkish Grand National Assembly, Minister Şimşek emphasized that the government is progressing with determination in the fight against inflation, stating that keeping wage increases above inflation is a priority during this process. He assured, “Our citizens can be at ease; a noticeable slowdown in inflation has begun. However, we will continue to support our citizens' purchasing power through wage policies.”

Şimşek's remarks strengthen expectations for the minimum wage increase in 2024, also bringing the possibility of an added welfare share in parallel with the year-end inflation rate to the forefront.

Experts indicate that as inflationary pressures are brought under control, wage increases will be based on a more sustainable foundation, but they also highlight that real increases in the minimum wage during this period will play a critical role.