Statement from Cevdet Yılmaz on retirement pensions: It will not only cover the lowest pension

Turkish Vice President Cevdet Yılmaz said the government's planned pension reform will not be limited to the lowest pension level, and that the legislation is intended to be submitted to parliament before the end of the year. The announcement signals a broader overhaul of retirement benefits than previously expected, though Yılmaz did not specify the size of the increase or the number of retirees affected. The move matters because pension spending is a major component of Turkey's budget and a key driver of household consumption and inflation. Investors will watch the draft bill's scope and cost when it reaches the legislature, along with any indication of how the government plans to fund the additional outlays.