Five Different Scenarios and Figures Clarified for the 2027 Minimum Wage Hike
Potential rates and figures prepared based on September inflation data have been announced for the new year minimum wage increase, which concerns millions of workers.
Following the September inflation data announced by the Turkish Statistical Institute, five different forecasts and raise scenarios for the new minimum wage that will be effective in 2027 have been put on the table.
September Inflation Data Announced
According to the data announced by the Turkish Statistical Institute, annual inflation in September materialized at 29.73 percent, while nine-month inflation stood at 24.32 percent. These rates are taken as the primary reference point in new minimum wage calculations.
Central Bank and Medium-Term Program Forecasts
In line with economic management and market expectations, based on the Central Bank's inflation forecast with a 28 percent hike, the net minimum wage is expected to be 35,936 TL. According to the Medium-Term Program forecast, with a 28.4 percent hike, the figure is projected to reach 36,049 TL.
Surveys and Association Expectations
According to the CBRT market participants survey scenario, with a 29.61 percent hike, the net minimum wage is calculated as 36,389 TL. The AA Finance expectation survey points to 36,403 TL with a 29.66 percent hike, and the Financial Institutions Association estimate points to the level of 36,608 TL with a 30.39 percent hike.
Commission Meeting Schedule
To determine the new figure that will replace the current minimum wage of 28,075 TL net, the Minimum Wage Determination Commission is planned to hold its first meeting in the first week of December.