Economic policies that make the rich richer and the poor poorer are bearing fruit "as expected".
While the rentiers are adding profit to their profits, those who live by their labor are constantly losing.
While retirees only agreed to the "6-month inflation difference" of 24.70 percent, millions of them could not even actually receive a raise because of the "root salary".
Banks, the big brother of rentiers, added new profits to their profits yesterday.
THE “ONLY WINNER” OF THE ECONOMY IS THE BANKS!
According to the Banking Regulation and Supervision Agency's report for the May 2024 period, the asset size of the sector increased by 3 trillion 423 billion 678 million liras compared to the end of 2023 and reached 26 trillion 973 billion 910 million liras.
Deposits, which are the largest source of funds among banks' resources, increased by 7.2 percent compared to the end of 2023 and reached 15 trillion 920 billion 832 million liras.
In the same period, the total equity capital increased by 10.6 percent and reached 2 trillion 381 billion 582 million lira.
As of the end of May, the sector's net profit for the period was 233 billion 649 million liras.
ZERO INCREASE FOR MILLIONS OF PENSIONERS!
Consumer Price Index (CPI) increased by 1.64 percent on a monthly basis and 71.60 percent on an annual basis in June.
The salary increase of Social Insurance Institution (SSK) and Insuranced Self-employed Institution (Bağ-Kur) retirees was 24.73 percent, as much as the 6-month inflation, and the salary increase of civil servants and civil servant retirees was 19.31 percent.
Even though the minimum pension is 10 thousand lira, if there is no regulation regarding the root salary, millions of retirees will receive zero raise.
For example, a retiree whose basic salary is 8 thousand liras will not receive a raise in July unless legal regulations are made.