Minimum Wage: What’s in Store?

Turkey’s minimum wage is set to increase in July, although there are different scenarios regarding the rate of raise. Economist Muhammet Bayram predicts the minimum wage will be at the level of $500, with a potential increase of up to 40% if the dollar value reaches 24 TL. Bayram also noted that the inflation rate was around 10-15% in May, and he expects the last three months of June to be similar. The announcement of the final minimum wage increase will take place at a meeting scheduled for the end of June, according to recent news reports. The minimum wage hike was promised during the election process, with many eagerly awaiting the outcome in July.

 

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