The Central Bank raised its year-end inflation forecast by 2 percentage points to 38 percent. Since the inflation increase will be decisive in the July raise of pensioners and civil servants, millions of citizens are asking the question “How much raise will I get?”. How much TL the lowest pension will increase is also one of the vital issues. So what is the latest situation in the July raise of civil servants and pensioners? Here is the calculation that will satisfy the curiosity of millions…
Fatih Karahan, President of the Central Bank of the Republic of Turkey (CBRT), made the second inflation report presentation of 2024. In the presentation, it was stated that the year-end inflation forecast was increased by 2 points compared to the previous values and updated as 38 percent. The upper band of inflation was kept at 42 percent.
We do not expect inflation to exceed the upper band of 42 percent,” Central Bank Deputy Governor Cevdet Akçay said in a statement, adding: “Our job is to worry.”
The increase in this inflation forecast may also affect the increases in pension and civil servant salaries. Economist Muhammet Bayram made special statements to Milliyet on this issue. Bayram predicts that civil servants and pensioners will see an increase of between 25 percent and 30 percent in July. In particular, he stated that the difference in the increases of SSK and Bağ-Kur pensioners and civil servant pensioners will close.
Bayram stated that the lowest pension is currently 10 thousand TL and that he expects this figure to increase to 15 thousand TL with the July increase. He stated that the minimum wage will be 17 thousand 2 TL with an increase of 50 percent and this will close the gap between the minimum wage and the pension.
The Collective Bargaining Agreement envisaged a 15 percent increase in civil servant salaries in the first six months of 2024 and a 10 percent increase in the second six months. If inflation in the first half of the year exceeds 10 percent, the inflation difference will be paid to civil servants and civil servant retirees.
Estimated salary increases for various civil servants such as general managers, branch managers, teachers, police officers, nurses and professors are as follows
