MÜSİAD President Mahmut Asmalı shared his assessments regarding the new minimum wage. President Asmalı said, "We are pleased that the sweat and the labour of our employees have not been crushed below inflation."
The statement by President Asmalı is as follows:
"As MÜSİAD, we wish that the new minimum wage of TRY 11,402 net, which will be applied in the second half of 2023, brings good for both our employers and our employees; we are pleased that the sweat and the labour of our employees have not been crushed below inflation.
On this occasion, we state once again that we have full confidence that, with the effect of the measures to be taken by the new economic administration, we will approach our inflation target step by step in the medium and long term. We also think that the new Council of Ministers having given confidence to the real sector and to the markets will make a positive contribution to price stability through the expectations channel
Indeed, as of the month of May, the annual increase in consumer prices had fallen to 39.59 percent and the increase in producer prices to 40.76 percent, and the gap between the CPI and the D-PPI had visibly narrowed. The developments in question had indicated that a much more predictable process had begun on the path towards achieving price stability.
At the same time, in order to alleviate the additional burdens that wage increases will bring to the employer, it is essential to increase the existing supports and incentives. In this context, the raising of the TRY 400 minimum wage support to TRY 500 has been a highly gratifying development for our employers.
In this vein, as we have also expressed in the past, we reiterate that providing an additional positive privilege for minimum wage employees within the scope of the industrial sector would be an important step towards increasing our manufacturing-oriented employment and our production capacity, and that the idea of a regional minimum wage practice must certainly be considered as an alternative to the current national minimum wage practice, which falls short in reflecting regional differences."