Turkey: new minimum wage increase
In one year, the Turkish minimum wage has been upgraded three times, with a cumulative increase of 200%!
1andJanuary, the Turkish minimum wageincreased by more than 50%from 5500 Turkish pounds per month (about 276 euros) to 8500 Turkish pounds (or 427 euros). This is the third increase in one year (cf.Turkey: Towards an inevitable economic crisis?). The Turkish minimum wage will thus haveincreased by 200 per cent between December 2021 and January 2023.
Announced by President Recep Tayyip Erdogan on 22 December, this increase, which aims at reviving the purchasing power greatly affected by galloping inflation in the country (up to 103 per cent for foodstuffs) and the fall of the Turkish currency against the dollar (30 per cent in 2022 and 44 per cent in 2021), is not up to the expectations of the trade unions, some of which advocated a minimum wage of 13,200 Turkish pounds (i.e. 670 euros) with a quarterly revaluation based on inflation.
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Source(s): The Echoes | RFI
Editor(s): C. Bedouin