ATO/Baran: Minimum Wage Increased to 22,104 TL with a 30% Rise - A Balanced Figure

Foreks - Gürsel Baran, Chairman of the Ankara Chamber of Commerce (ATO), stated that the increase of the minimum wage to 22,104 TL with a 30% raise is a sustainable and balanced amount for both employees and employers.

In a written statement assessing the increase in the minimum wage, Baran expressed the following views:

"The increase of the minimum wage to 22,104 TL with a 30% raise has become a sustainable and balanced figure for both our employees and employers. We must not forget that the main cause of the problems we are experiencing today and the loss of purchasing power is high inflation, which also poses an obstacle to investment and production from the employers' perspective. In this regard, raising employer support from 700 TL to 1,000 TL is significant and valuable. I hope that these steps will relieve us from inflation pressure in the shortest time possible and pave the way for interest rate cuts. I wish that the new minimum wage is beneficial and fortunate for both employees and employers."