Turkey announces an increase in the wages of employees and retirees by 25% to combat inflation

Turkish President Recep Tayyip Erdogan announced a 25% increase in the wages of state employees and retirees, according to the Turkish Anadolu Agency, today, Tuesday.

"Our goal is to remove the inflation bubble this year and remove it completely from our country's agenda, starting next year," the Turkish president said in a speech during his participation in the ceremony for "contracted employees" in the Turkish capital, Ankara.

It is worth noting that inflation rates in Turkey have slowed to their sharpest pace in more than a quarter of a century, a slowdown that may be endangered by the scale of public spending planned ahead of the next elections.

And Bloomberg news agency quoted today, Tuesday, according to data issued by the state statistical institution, Turksat, that consumer prices rose by 64.3% on an annual basis in December, down from 84.4% recorded in the previous month.

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