What will be the minimum wage? How much is the promise of a minimum wage increase?
With the second round of the presidential elections behind us, eyes turned to the promises made by Erdogan before the elections. Vedat Bilgin, Minister of Labor and Social Security, gave the date and figure of the increase in the minimum wage. Pointing to the month of July, Minister Bilgin announced that the minimum wage would be around 10,000 lire.
HOW MUCH WILL THE MINIMUM FEE BE?
Vedat Bilgin, Minister of Labor and Social Security, made a statement on the live broadcast he attended last night about the expected minimum wage increase in July.
“The minimum wage will be revalued in July. We take into account some parameters when calculating the minimum wage,” Bilgin said, using the following statements regarding the possible increase:
“There have been no taxes on the minimum wage for 1.5 years. In July, we will fix it in such a way that it preserves its real purchasing power. In January we made a deal that took it to the highest level of more than $455 in dollars in the history of the Republic. We will do the same in July. It will be a fee of approximately 500 dollars. Our work is done.”
As of today, 500 dollars is equivalent to approximately 10,000 TL, but an increase in the exchange rate is expected in the next period. The minimum net salary of 8 thousand 506 TL is equivalent to approximately 425 dollars today.
Noting that the Minimum Wage Commission is a commission that they serve on behalf of employers, unions and the public, and that this commission makes the decisions, Bilgin said, “We assess according to the commission’s decisions. Now it would not be morally correct for me to explain the numbers from here. I’m saying this; The fact that Turkey maintains a purchasing power of $500 at the minimum wage is reflected not only in those who earn the minimum wage but also in other employees.”
“The minimum wage also has the effect of determining the salaries at the top,” Bilgin said, adding: “The ones at the top don’t go up much. It is the result of the disorganization of the above.”
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
