
AI-generated summary
KESK made a statement stating that the purchasing power of public employees and retirees decreased following TÜİK's October inflation data. In the statement, issues such as inflation rates based on TÜİK data, revision of 2026 and 2027 inflation targets, criticisms about the 2027 budget proposal and the emphasis on fund-stock exchanges were discussed.
The Confederation of Public Employees' Unions (KESK), in its statement following TÜİK's October inflation data, stated that the purchasing power of public employees and retirees had declined and criticized the economic and budget policies of the government. In the statement, the following was noted:
"Even TÜİK's make-up data cannot hide the truth! In October, inflation was 2.58 percent, annual inflation was 29.77 percent. While four-month inflation reached 8.28 percent, the 7 percent raise given to public workers and retirees in July has already eroded. Moreover, even according to TÜİK data, annual inflation in education has reached 48.86 percent, health inflation has reached 43.29 percent, and housing inflation has reached 43.29 percent. It reached 40.24. TurkStat data does not even reach half of the real inflation we are experiencing. The price hikes in fuel products in the last 3 days alone show that the price of autogas (LPG) per liter increased by 9 TL (percent) last night, following the increase of 4 liras and 10 cents for gasoline and 3 liras and 60 cents for diesel on November 1. 23) raise was made.
They increased the 2026 inflation target, announced as 16 percent during the collective bargaining process, to 28 percent, and the 2027 inflation target, announced as 9 percent, to 21 percent. Those who increase inflation targets as "revised" expect us to be content with a 5+4 percent salary increase in 2027. According to BES-AR data, the hunger limit of a civil servant family of four is 49 thousand 809 TL, the poverty line is 125 thousand 744 TL, and the cost of living of an employee living alone is 81 thousand 783 TL! We have been talking for days about the fund-stock market robbery of hundreds of thousands of citizens' savings, the "profiteer of the century". In fact, we have been experiencing derivatives of this exploitation and robbery for years, with inflation turning into a kind of tax and the budgets set before us every year. The discussions on the 2027 budget proposal, which is the last of these, continue in the Turkish Grand National Assembly.
"Government" We allocated the largest share of the budget to education. Even though they say, "This budget will be a welfare and transformation budget," every figure in the budget proposal proves that these words are nothing more than heroism. In the 2027 budget proposal, revenues, expenses and taxes are increased by 44 percent, while salary increases are limited to the inflation target of 21 percent. The entire tax burden falls on us, from indirect taxes such as VAT and SCT to the Income Tax deducted from our salaries at the source. Almost half of the collected taxes go to interest, armament, treasury guarantees of PPP projects and capital. It is reported that not enough resources are allocated to education, health, employment, social security and poverty prevention.
There will be no "good news" for workers, public workers or retirees from this system in which the country is robbed and destroyed by those who feed on sources such as fund-stock market profiteering, interest, incentives, support, tax amnesty and treasury guarantees. The only way out is not by waiting for "good news" from those who created this dark picture, but through the united struggle of the millions who constitute the overwhelming majority of the society, to whom poverty and misery are imposed. "We will continue to fulfill our duty to support this struggle fought shoulder to shoulder by all segments of society that are victims of exploitation and poverty."
AI outlook — possibilities, not facts
The 2027 budget proposal will continue to be discussed in the Turkish Grand National Assembly and will be criticized by opposition parties.
Very likely · Within days
Reactions and actions against the loss of purchasing power among public employees and retirees may increase.
Likely · Within weeks

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European union and association representatives held a meeting in Paris between 20-22 November and called for coordinated action across the continent with demands for the cost of living, energy, food and housing prices, wage increases and public services.

Minister of Labor and Social Security Vedat Işıkhan announced that the Unemployment Insurance Fund has no relation with the liquidated funds, that 11 thousand 39 inspections were carried out in 2026 and a penalty of approximately 800 million lira was imposed on 3 thousand 274 workplaces. He also stated that 144 thousand students were provided with internship opportunities and the female workforce participation rate increased to 35.2 percent.
Minister of Labor and Social Security Vedat Işıkhan announced at the Grand National Assembly of Turkey Planning and Budget Commission that the Unemployment Insurance Fund resources are kept in Takasbank and that these resources cannot be used in other areas or speculative transactions.

Minister of Labor and Social Security, Vedat Işıkhan, announced at the Grand National Assembly of Turkey Planning and Budget Commission that no penny was transferred to the Unemployment Insurance Fund, and that the fund sources were used in government domestic debt securities, public deposit and participation banks and Takasbank. He reported that 11 thousand 39 labor inspections were carried out in 2026, the female employment rate increased to 35.2 percent and 8 thousand 845 medicines were included in the scope of reimbursement.
Minister of Labor and Social Security Vedat Işıkhan announced that the Unemployment Insurance Fund resources are not associated with liquidated funds and are not used in speculative transactions. Fund resources are kept in State Domestic Debt Securities, public deposits, participation banks and Takasbank in accordance with the Public Treasury Regulation. With the regulation change dated January 19, 2022, lending started through Takasbank, and the transactions are secured and carried out through Halkbank and Halk Yatırım. It was stated that the fund was audited by the Court of Accounts and independent auditing institutions and that no transactions were made with fund management companies.