Posted by meb at April 8th, 2007

While high inflation is ever present in Turkey, it increased by 919 times between 1990 and 2006, net wages increased by 1,579 times in the public sector and by 1,174 times in the private sector.According to an assessment made with data from the State Planning Organization (DPT), an Anatolia news agency reporter concluded that although Turkey had until recently suffered a great deal from chronic high inflation, workers enjoyed real wage increases. As an outcome, net wages in the public sector increased by 1,579 times and civil service salaries increased by 1,300.With the inflation rate increasing by almost 838 times during the period from 1990 till 2005, average wages in the private sector increased by 1,174 times. While in the period from 1990 until 2006, the highest increase was 1,950 times in minimum wages, it could not save minimum wages from remaining way behind average wages. The highest increase in retirement wages during the period from 1990 until 2006 was in Social Security for Self-employed (Bağ-kur) pensions, which increased by 3,172. During the above-mentioned period, Social Security for Civil Servants (Emekli sandığı) retirees’ monthly wages increased by 1,040 times and Social Security for workers (SSK) wages increased 1,074 times.

source: Today’s Zaman

Related posts:

  1. Hot money increases eleven-fold in five years
  2. October inflation reflects bad news for consumers
  3. Inflation increase slows in November despite crisis
  4. Inflation rate falls to single-digit levels again
  5. Manufacturing wages climb in 2007 Q4