Turkey Boosts Minimum Wage by 49% Amid Inflation Challenges

Turkey has announced a significant increase in its minimum wage, with the monthly figure set to rise by 49% to 17,002 Turkish liras (approximately $578.4) starting January 1, 2024. The country’s labor and social security minister, Vedat Işıkhan, made the announcement on Wednesday, highlighting the considerable increase in wages compared to previous periods.

This decision, finalized by the country’s Minimum Wage Determination Commission after several days of discussion, marks a cumulative 100% increase from the previous year. The commission, comprising representatives from the government, labor unions, and employers’ associations, operates on a simple majority vote for decision-making.

Earlier, Turkey had raised the minimum wage by 34% to 11,402 liras effective July 1, 2023. The latest increase comes as the country grapples with stubborn inflation, which stood at 61.98% in November.

Ergün Atalay, president of the Confederation of Turkish Trade Unions, expressed the workers’ expectation of a minimum wage of 18,000 liras. Atalay also suggested biannual negotiations for wage adjustments and indicated that the union would annotate the decision.