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Turkey May Boost Minimum Wage 35-40%, Turkey Denies Moving S-400s

TURKEY

LOCAL NEWS

  • Turkey may raise its minimum wage by 35-40% to compensate for increased costs, the Daily Sabah reports. Says Turkish labour ministry is set to enter talks with unions and govt is "working hard to come up with a suitable increase."
    • Notes the Erdogan govt is under pressure from opposition to boost living standards amid a surge in inflation and may also consider boosting expenditure to target the poorest segments of society ahead of 2023 elections
  • Turkey denies reports it moved S-400s to Incirlik air base after rumours emerged on social media. This comes mere days after Biden & Erdogan discussed military equipment at the G20
  • EBRD sees Turkey growth at 9% in 2021, 3.5% in 2022, alongside a reduced current account deficit of -2.4% of GDP by year end.
    • Risks to forecast include; further Covid-19-related setbacks; impact of higher energy prices, given heavy dependence on energy imports; risks associated with a premature loosening of monetary policy; the return of inflation in advanced economies; and adverse geopolitical developments
  • IYI party leader Aksener says she positions the HDP alongside the PKK, and that it should distance itself from the terror group
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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