We are struggling to survive in the days when tangible assets melt down due to high inflation, interest and exchange rate pressure, and we are under the effects of an ongoing economic crisis.
The ongoing economic crisis has been caused by many factors, some of which are the epidemic, administrative weakness, the wrong foreign policy and the pressures of developed countries.
As in all parts of the world, every negativity that is experienced mostly affects the people who have no income or low income, which is defined as the lower strata.
The wealthy are the ones who make the most of the opportunities that arise during the crisis, and they have more money with the money they have. The most important basis for the valuation of these opportunities is the exchange rate pressure, and it is obtained as a result of selling the product purchased at a low price when its price increases due to the effect of high inflation. Here people only work the money they have.
On the other hand, those who have difficulties in their livelihoods, on the other hand, restrict their expenditures due to the increasing pressure on them, and these restrictions cover even the most human needs in order to live.
Today, in my country, there has been a tremendous increase in the price of the minimum wage, such as 50%, and the tax has been removed from the minimum wage, a step that should have been for years.
I support this radical decision taken while experiencing such a deep crisis, because minimum wage means the least earning of the society and almost 40% of the country is in this income bracket. This will allow tens of thousands of families in many difficulties to breathe a sigh of relief.
If I look at the situation from another angle, the fact that the announced inflation is not correct may have been accepted. The percentage increase in price may reflect real inflation.
The city where I live is one of the places where the prices are the cheapest as it grows many of the country's products, however, we are negatively affected by the rising prices and we are having difficulties in living. In metropolitan cities where prices are higher, we realize that the crisis deepens and things are not easy.
In reality, our expectation and desire is to protect the purchasing power first and then to increase the purchasing power as much as possible, rather than the salary increases. No matter what part of the society we are, we want to have the right to live a better life and to be members of a humane life. We need it at the point where our needs are met. We expect our purchasing power to be increased and our material values to be preserved rather than salary increases.
If the right decisions are not taken and the mistakes made continue, the 50% price increase will dissolve in a few months and will not make any sense. I hope that the purchasing power created by this price increase will be permanent and I would like to state that our expectations are on this path. Maintaining purchasing power is a necessity for a better life.
We dream of buying any product we buy today for the same price in a few years, it shouldn't be too hard.
Thank you for reading.
That is how it usually happens. Whenever there is an increase in income the purchasing power increases too, rendering the former almost meaningless. I personally think it's better to leave the income rate as it is and maintain the low inflation, than to raise income and the cost of living rises along.