Turkey raises monthly minimum wage by 55% for 2023

Turkey's monthly minimum wage will be 8,506.80 lira ($455) in 2023, the Turkish presidency said on Thursday, marking a 55% increase from the level determined in July and a 100% hike from January.

Speaking at a news conference earlier, President Tayyip Erdogan said minimum wage may be hiked again throughout the year if necessary. Annual inflation soared above 85% in recent months but has begun to ease slightly.

Erdogan said the employer and employee unions could not reach an agreement and the government stepped in to determine the number. Representatives from the employee union did not attend the announcement at the presidential palace.

Source: Reuters