The regulation regarding the victims of delayed pension age (EYT) which is awaited by hundreds of thousands of employees, will result by the end of this month, according to President Recep Tayyip Erdogan. Speaking to reporters in the capital Ankara before flying to Turkmenistan to attend the first Turkey-Azerbaijan-Turkmenistan trilateral summit, Erdogan also said Turkey can’t be expected to remain silent on terror attacks launched from northern Syria. He didn’t specify the date for a possible land operation across the border into northern Syria to eliminate the threat.
Labor and Social Security Minister Vedat Bilgin also stated that they will complete the technical work for EYT and submit it to the Parliament by the end of December. Stressing that the number of EYT changes every day, Bilgin added: “It started with 1.5 million people. It has reached 1.8 million.”
Republican People’s Party (CHP) Chairman Kemal Kilicdaroglu, who convened with reporters, said the minimum wage should be at TRY 10,128. Touching on EYT, Kilicdaroglu added: “It has been revealed that institutions are working disjointedly for EYT. The Labor and Social Security Ministry and the Treasury and Finance Ministry are not working together.”
There is a need for radical and structural reform to tax system, according to Rifat Hisarciklioglu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB). Speaking at a conference held by TOBB, Hisarciklioglu said the goal should be the implementation of lower tax rates and the design of the tax system in a simple and understandable way. He also emphasized that tax revenue loss stemming from the liquid fuels, beverages, tobacco, and electronic devices sectors, has exceeded TRY 50bn.
Most of the crude oil tankers that were recently waiting for permission – 19 out of 26 – have proceeded through the Turkish Straits after submitting a confirmation of insurance, according to a statement from the Transportation and Infrastructure Ministry’s maritime authority. It also said 22 of the tankers loaded with crude oil had submitted their confirmation letters to Turkish authorities. Turkey has started requiring that oil tankers going through the Istanbul and Canakkale Straits confirm that they have insurance after some international companies canceled the coverage of vessels due to sanctions imposed on Russia over the war in Ukraine.
No important data will be released in the country.
>> Turkey’s electric car brand TOGG aims to enter the European market by the end of 2024, according to Gurcan Karakas, CEO of TOGG. Speaking to Turkish-German Economy Forum in the capital Berlin, Karakas said the firm will probably enter markets of Scandinavian countries first.
>> Seyit Ardic, Chairman of the Board of Directors of Ardic Cam Sanayi AS has been elected as the Chairman of the Ankara Chamber of Industry (ASO) by the ASO Assembly for 2022-2026.
>> Medication prices have been raised by 36.77% as of today, according to the Official Gazette.
>> The Treasury and Finance Ministry borrowed TRY 4.3bn in total in two auctions held yesterday, according to a statement from the Ministry.
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Our Eco Analysis Columnist Alaattin Aktas addresses the government’s regulations to be made for 2023 in light of inflation.