Mehmet

Growth potential still high, disinflation continues: Şimşek

The Turkish economy still has a growth potential and may join high-income countries within a year or two, Finance Minister Mehmet Şimşek has said, adding that disinflation has begun and is continuing.

"We are converging to European Union countries in terms of per capita income," the minister said, speaking at an energy conference in Istanbul.

Labor union demands substantial increase in minimum wage

The labor union Türk-İş demanded that the minimum wage should be increased from a current 17,000 Turkish Liras to 29,583 liras ($811).

Representatives of Türk-İş, the Turkish Confederation of Employer Associations (TİSK) and the government launched talks on Dec. 10 to decide about the minimum wage for 7 million workers, which will take affect in 2025.

Authorities probing firms suspected of cartel practices

The Finance Ministry's Tax Inspection Board has put companies that jack up prices despite no significant rise in costs and sectors where firms are suspected of engaging in cartel practices on its radar.

The board is working to identify firms that make profits above the sector average but failed to report their income properly in tax declarations.

Museum dedicated to renowned Turkish poet set to be restored

A museum honoring the late poet Yahya Kemal Beyatlı, one of the most prominent figures of Turkish literature, will undergo a thorough renovation.

This decision comes after allegations surfaced online when a user shared photos of the museum on the social media platform X, claiming it was in poor condition with peeling walls caused by excessive moisture.

Türkiye's annual inflation eases to 47.1 percent in November

The annual inflation rate has continued to decline, slowing from 48.58 percent in October to a 17-month low of 47.09 percent in November, according to data from the Turkish Statistical Institute (TÜİK) on Dec. 3.

This represents the sixth consecutive month of easing in the annual inflation.

Pages