Özgür Özel Remarks: You Can’t Buy 1 Liter of Diesel for 50 Lira

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Key Messages from CHP Chairman Özgür Özel on the Economy and Political Matters

During the recent parliamentary group meeting, CHP Chairman Özgür Özel delivered a comprehensive speech addressing the current economic challenges faced by Turkey. He emphasized the importance of acknowledging the sacrifices of local leaders, paying tribute to Manisa Metropolitan Mayor Ferdi Zeyrek, who recently passed away, highlighting his contributions to the community.

Özel critically examined the government’s handling of the minimum wage, stating that based on the inflation rate, the minimum wage should be approximately 35,000 Turkish Lira instead of the currently set 22,000 Lira. He expressed concern over the discrepancy, saying, “They have effectively taken at least 8,000 Lira from every individual earning the minimum wage. This year’s inflation further exacerbates this loss.”

He further argued that, when considering inflation over five months, the minimum wage’s real purchasing power has diminished to roughly 19,000 Lira. “There is no justification for this discrepancy,” Özel remarked. He also addressed the plight of retirees, stating that many are surviving on pensions around 14,500 Lira, which is inadequate for a decent livelihood. He called for urgent action, suggesting that “if measures are taken based on TÜİK’s inflation calculations, pensions should be increased to approximately 15,500 Lira by year’s end, and a uniform raise is essential.”

Comparison of Minimum Wage and Retirement Pensions Over Time

Highlighting the erosion of economic value, Özel presented detailed tables illustrating how many quarter gold coins could be purchased with the minimum wage and pension amounts historically. He stated, “Back in 2002, the minimum wage could buy as many as 7 quarter gold coins. By the start of this year, that number had decreased to 4, and currently, it stands at only 3 coins. Unfortunately, this demonstrates a significant decline in purchasing power.”

Similarly, he pointed out the decline in retirement pensions: “In 2002, the lowest pension was equivalent to 8 quarter gold coins. By January of this year, it had plummeted to just 3 coins, and now, it’s down to only 2 coins — a loss of 6 coins over time.”

Cost of Living and Energy Prices

Using a table that compared the prices of various fruits, Özel discussed rising living costs. He commented, “Currently, we observe repeated increases in gasoline and diesel prices. The troubling aspect is that when fuel costs go up, it triggers a ripple effect across all sectors, causing prices to escalate across the board. Higher transportation and production expenses inevitably lead to increased prices for everyday goods.”

Supporting the recent fuel price hikes, Özel remarked, “It doesn’t concern me personally, as I already pay 50 Liras for fuel,” and pointed to a bottle of diesel, stating, “You can’t even buy 1 liter of diesel at this rate.” He concluded by emphasizing the significant impact of energy prices on overall inflation, underscoring the need for strategic economic policies to address these issues.