The minimum wage increase is being considered under two possibilities.

Before the minimum wage negotiations that will start in December, evaluations are ongoing regarding how much of an increase can be made within the AK Party and the government.

It was also stated that the minimum wage increase was discussed in the last Economic Coordination Board meeting. For some time, discussions have been held on whether the increase in the minimum wage will be based on the inflation that will be determined at the end of the year or the inflation rate targeted for 2025.

THE INCREASE WILL BE DETERMINED BY THE AVERAGE OF BOTH RATES

The expectation within the AK Party is to make an increase based on the average of both rates. The Central Bank's year-end inflation forecast is 44%. The 2025 target was announced by the Central Bank as 21%.

WEIGHTED OPINION TO INCREASE BASED ON YEAR-END INFLATION RATE

AK Party sources indicate that if these rates are taken into account, there could be an increase of 32-35% in the minimum wage. If there is an increase at these rates, the minimum wage will rise from 17,002 lira to 22,500 or 23,000 lira. The weighted opinion within the AK Party is to increase the minimum wage based on the inflation rate that will emerge at the end of 2024. If the Central Bank's estimated amount holds and a 44% increase is made at the end of the year, the minimum wage will be 24,500 lira.