MNI China Daily Summary: Friday, January 10

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TURKEY: Cabinet to Discuss Minimum Wage Increase

TURKEY
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  • Chaired by President Recep Tayyip Erdogan, cabinet today will discuss the 2025 minimum wage increase and current developments in Syria, Ekonomi report. As a reminder, following the third meeting of the Minimum Wage Commission last week, the Deputy President of the Turk-Is labour group said that while a specific number was not discussed at the meeting, he believes the announcement will come during this week.
  • Representatives of the labour union are demanding an increase of 74% to TRY 29,583 per month, up from the current TRY 17,002. Those demands are significantly above the figures highlighted in local press last week – Ekonomi wrote that the new minimum wage could be in the range of TRY 22,000-23,000, which would represent an increase of 29-35%.
  • Turkey's foreign minister said after meeting Syria's de facto leader in Damascus on Sunday that there was no room for Kurdish militants in Syria's future, calling for the YPG militia to disband, Reuters report.
  • There are no major data releases scheduled for today. The CBRT rate decision on Thursday provides the highlight of the week, where the central bank is generally expected to begin its easing cycle. Our full preview of the decision will be released later today.
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  • Chaired by President Recep Tayyip Erdogan, cabinet today will discuss the 2025 minimum wage increase and current developments in Syria, Ekonomi report. As a reminder, following the third meeting of the Minimum Wage Commission last week, the Deputy President of the Turk-Is labour group said that while a specific number was not discussed at the meeting, he believes the announcement will come during this week.
  • Representatives of the labour union are demanding an increase of 74% to TRY 29,583 per month, up from the current TRY 17,002. Those demands are significantly above the figures highlighted in local press last week – Ekonomi wrote that the new minimum wage could be in the range of TRY 22,000-23,000, which would represent an increase of 29-35%.
  • Turkey's foreign minister said after meeting Syria's de facto leader in Damascus on Sunday that there was no room for Kurdish militants in Syria's future, calling for the YPG militia to disband, Reuters report.
  • There are no major data releases scheduled for today. The CBRT rate decision on Thursday provides the highlight of the week, where the central bank is generally expected to begin its easing cycle. Our full preview of the decision will be released later today.