Berova: Cost-of-Living Adjustment to Be Paid Twice in 2025
Finance Minister Özdemir Berova announced that the cost-of-living adjustment (COLA) will be provided twice in 2025, although the calculation method will change.
Speaking on the 45+ program, Berova shared insights into the 2025 Central Government Budget Bill, noting ongoing efforts to combat the informal economy, despite the challenging road ahead.
Berova highlighted the impact of high inflation on the 2025 budget figures, pointing to foreign exchange rate increases as a major factor. He projected year-end inflation for 2024 to be around 60% and estimated 2025 annual inflation at 35%.
Reflecting on government measures, Berova noted that, to ease the burden of inflation on citizens, the cost-of-living adjustment was paid three times in 2024, which strained public finances. For 2025, he confirmed the adjustment will be paid twice with a revised calculation method.
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