Turkey's government raised the gross minimum wage by 21.6 percent to TRY 3,577.5 per month in 2021, while the monthly net wage increased about 16% to TRY 2,825. Turkey’s central bank has an inflation forecast of 12.1% for 2020 and 9.4% for 2021. source: Ministry of Labor and Social Security
Minimum Wages in Turkey averaged 787.13 TRY/Month from 1990 until 2021, reaching an all time high of 3577.50 TRY/Month in the second quarter of 2021 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 May of 2021.
Minimum Wages in Turkey is expected to be 3577.50 TRY/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Minimum Wages in Turkey to stand at 3577.50 in 12 months time. In the long-term, the Turkey Gross Minimum Monthly Wage is projected to trend around 4250.00 TRY/Month in 2022 and 4890.00 TRY/Month in 2023, according to our econometric models.