After twenty years of supporting the establishment of companies in Turkey, this leader, although accustomed to crises in such a perilous geopolitical region, has never seen this. "Some organizations have had to increase the net salaries in Turkish lira of their employees by more than 100%," says Ilker Onur, Franco-Turkish, executive director of Advantis Consulting Turkey. He himself was forced to make significant increases in pay. "Over the year 2023, we will have 25% margin losses... I am forced to cut back on it because I can not increase my prices, "says the businessman.
No one really has a choice in such a situation. While inflation in Turkey officially fell to around 50% in April year-on-year, price increases reached a record high: 83% in September 2022, unseen since the 2000s. Unofficially, it would have even exceeded the 100% mark, according to specialists. To support the poorest households...
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