27.04.2026 12:40
ITO President Şekib Avdagiç stated that the minimum wage should not receive an interim raise while evaluating the business world's agenda. Avdagiç said in his statement, 'The minimum wage is regulated once a year. It would be reasonable to maintain the current process at this time.'
Şekib Avdagiç, President of the Istanbul Chamber of Commerce (İTO), made evaluations regarding recent economic developments and expectations for an interim minimum wage increase.
“ECONOMY PROGRAM MANAGED A SUCCESSFUL PROCESS”
Avdagiç stated that with the efforts of the economic administration over the past three years, Turkey has achieved a significant recovery in its foreign exchange reserves and reached its targets in access to external financing. However, noting that the regional war has changed the balance, Avdagiç said the business world has paid a heavy price in this process.
EMPHASIS ON “FINE-TUNING” OF INTEREST RATES AND ECONOMIC POLICIES
Evaluating the Central Bank’s interest rate decision, Avdagiç noted that addressing the issue solely within the framework of an interest rate hike or holding it steady would not be sufficient. Stating that economic policies need to be reviewed with a holistic approach, Avdagiç expressed the need for updates in exchange rate, export, and import policies.
EXPORT TARGET OF $410 BILLION
Drawing attention to the importance of the $410 billion goods and services export target set for 2026, Avdagiç emphasized that the ratio of exports to imports should not fall below 75%.
“INCENTIVES SHOULD BE WIDESPREAD”
Stating that industrial incentives should be extended to a broader base, Avdagiç pointed out the importance of providing more support, especially to medium-sized enterprises.
EMPHASIS ON CUSTOMS UNION AND ENERGY
Avdagiç noted that updating the Customs Union with the European Union is critical, while stating that Turkey has made significant progress in renewable energy resources.
“NO INTERIM MINIMUM WAGE INCREASE” MESSAGE
Addressing expectations for an interim minimum wage increase, Avdagiç stated that maintaining the current system would be more appropriate, saying, “The minimum wage is regulated once a year. Preserving the current process would be reasonable.”