Statement on Salaries and Inflation by Minister Şimşek

Treasury and Finance Minister Mehmet Şimşek made important evaluations regarding the economic agenda in a joint live broadcast he attended, announcing that the salaries of public employees and retirees will be increased by at least the inflation rate.

Medium-Term Program and Disinflation Process

Treasury and Finance Minister Mehmet Şimşek stated that the Medium-Term Program has two basic functions: a policy commitment and a roadmap.

Stating that their main target is disinflation, Şimşek expressed that this process has not progressed at the desired speed due to external factors and the war in the Middle East.

Budget Targets and Economic Indicators

Emphasizing that the budget is the most binding target in terms of the MTP, Şimşek reported that they have performed better than the targets regarding the ratio of the budget deficit to national income.

He stated that the current account deficit has improved, exits from the FX-Protected Deposit scheme have been made, and reserves are no longer an issue.

Salary Increases and Cost of Living

Noting that the cost of living is among their top priorities, Şimşek announced that the salaries of public employees and retirees will be increased by at least the inflation rate.

Support Provided to the Real Sector and Farmers

Touching upon the support provided to farmers, industrialists, and the real sector, Şimşek stated that low-interest loans were provided to approximately 1 million farmers.

He added that agricultural subsidies continue resolutely and significant success has been achieved in the fight against informal economy.