Turkey's monthly gross minimum wage will be 10,008 lira ($535.98) in 2023, President Tayyip Erdogan announced on December 22nd. The monthly net minimum salary will be 8,500 liras ($455), marking a 50% increase from the level determined in July and a 94% hike from January. The move aims to offset a cost-of-living crisis as the inflation rate stands at 84.4% after the CMB slashed its key rate by 1000 bps since September 2021 demanded by President Erdogan and the lira lost more than half of its value. source: Ministry of Labor and Social Security
Minimum Wages in Turkey averaged 1085.90 TRY/Month from 1990 until 2023, reaching an all time high of 10008.00 TRY/Month in the second quarter of 2023 and a record low of 1.50 TRY/Month in the fourth quarter of 1992. This page provides the latest reported value for - Turkey Minimum Monthly Wage - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey Gross Minimum Monthly Wage - values, historical data and charts - was last updated on March of 2023.
Minimum Wages in Turkey is expected to be 10008.00 TRY/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations.