Minister Nabati Comments on Pension Hike in Latest News Update
Turkish Treasury and Finance Minister, Nureddin Nebati, has claimed that the country’s successful handling of inflation is due to the effect of the epidemic and war on global pressures. Nebati explained that Turkey established a team to closely follow price increases and that they draw a path with figures from the Central Bank and TUIK. The inflation rate in Turkey is now on the declining part due to the base effect. Prices for motorine, fertilizer, and logistics have all dropped compared to the last year, which has contributed to the declining inflation rate. Nebati also discussed the minimum wage, saying that last year, they increased it by 100 percent and increased civil servant and retiree salaries by 85 percent, bringing the minimum wage above 8,500 liras. Nebati and two ministries are currently working on a salary increase for retirees who earn above 7500 TL. Nebati also talked about the Turkish Economy Model, describing it as unique to Turkey’s conditions and vision. Despite the jump in energy prices and gas prices three times higher than before the epidemic, Turkey boomed in tourism and achieved success by reaching figures before the epidemic, financing the current account deficit. Nebati assured that the exchange rate would stabilize after the election, saying that there is no question of a rally. Finally, Nebati stated that the current policies would not change, even if another government comes to power.
