Istanbul, June 20, 2023: Turkey on Tuesday raised the monthly minimum wage by 30 per cent, the second hike so far this year, as stubbornly high inflation takes its toll on low-income earners.
Turkish households have been grappling with the highest inflation in over two decades, reflected in lower buying power, higher food prices and rents, among other costs.
The Turkish minimum wage is now 11,402 liras ($483), Minister of Labour and Social Security Vedat Işıkhan told reporters in Ankara, according to state news agency Anadolu.
He added tax exemptions for employers would continue.
President Recep Tayyip Erdoğan, who in elections earlier this month extended his rule into a third term, had pledged his government would not allow employees “get crushed under” high inflation, acknowledging economic troubles.
Turkey’s official inflation stood at nearly 40% in May. Independent groups think real inflation figures are more than double the official figure.
The amount of money required to feed a family of four is 10,360 liras, just below the minimum wage, according to local workers’ union Türk-İş.
