When the minimum wage is increased by 50%, in terms of employees; It seems to be a positive development due to the fact that it was determined above the announced inflation rate, but there are some issues that need to be examined. First of all, it is clear that an increase in the minimum wage above the inflation rate is necessary in order to protect the right to a dignified life of all individuals; Only in this way will it be possible to talk about a real increase.
However, the increase will not make a big contribution to the employee in terms of purchasing power if the current increase in inflation continues. If inflation and exchange rate continue to increase at this rate, the 50 percent minimum wage increase will also melt away in the process. Therefore, our primary focus is to reduce inflation and exchange rate volatility, that is, to ensure that it is predictable. If we look at the employer side, it can be predicted that especially small businesses may have to move forward with negative situations such as layoffs due to the increase in input costs due to the increase in foreign exchange rates and the shrinking market.
At this point, it would be appropriate to support small businesses by creating different financing resources such as social security support, employment support, increase supports related to credit limits, in order to avoid undesirable situations such as layoffs. It is clear that there is a need to review the monetary policies related to the fight against inflation and the exchange rate. Otherwise, it will not be possible to prevent the increase in the rate of increase in the face of inflation.
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