Will there be a raise in the minimum wage in July? This question was answered in the open letter sent by the Central Bank to the government.

With the negotiations held by the Minimum Wage Determination Commission, the minimum wage was determined as net 17 thousand 2 TL in December, effective from January 1, 2024. There was a 49 percent increase in the minimum wage compared to the previous period. In addition to the inflation difference, civil servants and retirees are reflected in the collective bargaining increase.

According to the collective bargaining increase, civil servants and retired civil servants will receive their second raise of the year in July. Recently, whether minimum wage earners will receive an interim raise in July remains hot on the agenda.

The Central Bank sent a letter to the Minister of Treasury and Finance, Mehmet Şimşek, as required by law, because the inflation target was not met in 2023.

A single increase in the minimum wage was emphasized in the text. Within the scope of the letter sent, it became clear that there will be no minimum wage increase in July 2024.

The government announced that the interim raise that it has made in July for the last 2 years will not be given this year; He decided on a single wage for 2024.

In the text of the Central Bank, it is stated that “Updating the minimum wage once a year, observing the inflation forecasts presented in the MTP in managed prices and wage and tax adjustments, and supporting the tight stance in monetary policy with prudent fiscal policy are of critical importance in terms of establishing the envisaged disinflation path.” “It carries,” he evaluated.

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