Turkey’s Economic Outlook: Inflation and Minimum Wage Adjustments

President Recep Tayyip Erdoğan has highlighted the central bank’s year-end inflation forecast of 44% when discussing the upcoming minimum wage increase set for January 1. He noted that recent wage hikes have surpassed actual inflation rates and indicated a similar approach for 2025. Following his remarks, the Turkish lira experienced a slight appreciation, trading at 34.4850 to the dollar. The central bank anticipates a reduction in inflation to 21% by the end of next year, supported by stringent monetary policies. :contentReference[oaicite:0]{index=0}