Turkey Allocates $1.38 Billion for Increased Retiree Allowances and Maternity Benefits

Turkey anticipates an expenditure of 50.4 billion lira ($1.38 billion) this year to cover increased retiree allowances and maternity benefits. This is according to an impact analysis report released on Thursday, March 13. The proposed bill, submitted by President Erdogan's AK Party, includes a 1,000 lira ($27.32) increase to the Eid holiday allowances for 15.5 million pensioners. Changes to maternity and child allowances are also included, aimed at addressing a declining birth rate. The AK Party report estimates the Eid allowance increase will cost 28.4 billion lira for the 2025 budget, while maternity allowances will require an additional 22 billion lira. The total increase in maternity and child allowances is projected to reach 337 billion lira over five years. In response to declining birth rates, Ankara has declared 2025 the "year of the family" and plans to implement incentives to encourage higher fertility rates.