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TURKEY: Second Increase to Minimum Monthly Pension on the Agenda

TURKEY
  • According to Ekonomi, the minimum pension amount may be increased from TRY10,000/month to TRY12,000/month. If approved, this would be the second increase to the minimum pension amount this year.
  • According to Anadolu Agency, SWM Motors, a unit of China’s Shineray Group, has completed application process to manufacture in Turkey. This follows reports last week that China’s BYD is poised to build a $1bn EV plant in Turkey. Erdogan is expected to announce that agreement today.
  • There are no major data releases scheduled for today, with unemployment rate and industrial production figures on the docket Wednesday and current account data crossing on Friday.

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