The Turkish Statistical Institute (TUIK) will announce labor force statistics for October on November 28th. The unemployment rate in Türkiye remained at 8.6 percent in September, remaining unchanged compared to the previous month.
On December 1st, the institute will make its growth data for the third quarter of the year available to the public. The Turkish economy grew by 4.8 percent in the second quarter of the year compared to the same period last year. The economy has recorded growth for 20 consecutive quarters.
Trade Minister Ömer Bolat is expected to announce foreign trade figures for November on December 4th. In October, exports were calculated at 24 billion 1 million dollars, an increase of 2.3 percent compared to the same month last year, and imports were calculated at 31 billion 363 million dollars, an increase of 6.6 percent.
November inflation will be announced on December 3rd
TurkStat will announce November inflation data on December 3rd. While inflation rose 2.55 percent on a monthly basis in October, it fell to 32.87 percent on an annual basis. The consumer price index reached its lowest level in 47 months on an annual basis. The domestic producer price index rose 1.63 percent on a monthly basis and 27 percent on an annual basis in October.
Industrial production and construction cost indices for October will be announced on December 10th. While the industrial production index fell by 2.2 percent on a monthly basis in September, it rose by 2.9 percent on an annual basis.
TurkStat will release 2024 provincial gross domestic product (GDP) data to the public on December 11. Last year, Istanbul had the highest share of GDP at 30.4 percent, and Kocaeli ranked first in GDP per capita with 516,460 lira.
Markets will keep an eye on the interest rate decision
The meeting of the Monetary Policy Committee of the Central Bank of the Republic of Türkiye will take place on December 11th. Markets will closely monitor the meeting's decision. At its October meeting, the board cut the one-week repo auction rate, which is the key interest rate, by 100 basis points to 39.5 percent.
The bank will announce its balance of payments statistics for October on December 12th. In September, there was a surplus of 1 billion 112 million dollars on the current account of Türkiye and a surplus of 6 billion 803 million dollars on the current account excluding gold and energy.
The Ministry of Finance and Finance will announce the budget implementation results for November on December 15. The central government's budget revenue in October was 1 trillion 147.1 billion lira and expenditure was 1 trillion 370.3 billion lira.
Income distribution statistics for this year will be announced on December 26th and labor force statistics for November on December 30th.
The budget marathon continues with the general assembly phase
The budget marathon, which began in the GNAT Planning and Budget Commission, will move to the General Assembly in December. Budget negotiations begin on December 8th at the General Assembly and continue until December 21st.
Negotiations on public administration budgets will be completed in nine rounds. Once the rounds are complete, the budget and final settlement items will be voted on.
Workers will be eyeing the minimum wage increase
In the last month of the year, millions of workers and employers will turn their attention to the decision that the Commission will take to determine the minimum wage.
Minister of Labor and Social Security Vedat Işıkhan said: “We will meet again with our workers' and employers' representatives by convening our minimum wage setting commission in early December this year. Our main priority in this process is for the parties to reach a common-sense consensus within the framework of social dialogue. I believe that an optimal level will emerge from the commission that will ensure both the well-being of our workers and the productive and employment power of our employers protects.” He used the expression.
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