Turkish President Recep Tayyip Erdogan’s AK Party won parliament’s approval on a key election pledge to enable early retirement for more than 2.2 million people.
(Bloomberg) —
Turkish President Recep Tayyip Erdogan’s AK Party won parliament’s approval on a key election pledge to enable early retirement for more than 2.2 million people.
The nation’s parliament ratified the government bill in a vote late Tuesday, state-run Anadolu Agency reported.
The government estimated the cost of the plan at about 250 billion liras ($13.4 billion) in its first year, a senior official told Bloomberg in December, speaking on condition of anonymity.
Turkey to Earmark $13 Billion for Early Retirement Ballot Pledge
As Turkey prepares for elections slated for May, Erdogan’s been accelerating public spending, including raising the minimum wage by over 50% and providing cheap government-backed loans.
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