MHP Says Erdogan Has Agreed to Raise the Minimum Wage in July

LOCAL NEWS

• After speaking with Erdogan, MHP’s Sancakli says Govt will increase the minimum wage again in July. “Hopefully as of July, the salaries of many employees and retirees, including the minimum wage and pensions will be increased.”
  • While the pension increase is normal in July, the minimum wage is only adjusted one a year and was increased 50% in December. – Duvar
• Real estate firms say Russians are buying significant amounts of Property in Istanbul, paying in cash, opening accounts in Turkey or using gold due to sanctions.
  • Erdogan said that Oligarchs and Russian businesses were welcome in Turkey and could see notable investment as a result of Russian sanctions. – Duvar
• Turkey & Israel are conducting behind the scenes negotiations over a natural gas pipeline as one of Europe’s alternatives to Russian energy supplies. A plan devised 5 years ago said gas would flow through a subsea pipeline from Israel to Turkey and then to southern Europe.
  • Industry officials have said, however, that production restraints and geopolitics could affect the plan with bot side still struggling with bilateral relations. – Ahval

Data:

• 0800BST: economic confidence March, 98.2 prior