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Home News

Turkey Raises Monthly Minimum Wage By 30% For 2025

The new minimum wage of 22,104 Turkish lira ($630.36) will impact some 9 million workers, and is expected to elevate inflation.

Lesley MillerbyLesley Miller
December 26, 2024
in News
Reading Time: 1 min read
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DD DEC 26 2024 #2 Turkey Raises Monthly Minimum Wage By 30% For 2025

Employees work at a garment factory at the organized industrial zone in Corum, Turkey, August 23, 2024. REUTERS/Cagla Gurdogan/File Photo

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Turkey’s net monthly minimum wage will be 22,104 Turkish lira ($630.36) in 2025, Turkish President Tayyip Erdogan said on Tuesday, marking a 30% increase from 2024.

The minimum wage hike, which impacts some 9 million workers and is seen as a benchmark for the increase in private sector salaries, is expected to elevate inflation in the coming months, according to economists.

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According to Reuters calculations based on central bank studies, a 25% wage increase would raise annual inflation by between 1.5 and 5 percentage points.

Turkish inflation declined to 47.09% in November from an annual high of 75% in May, mainly due to tight monetary and fiscal policies. However, the improvement in the print was slower than previously forecast according to the central bank.

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($1 = 35.0659 liras)

 (Reporting by Ezgi Erkoyun; Editing by Chris Reese)

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Source: Reuters
Tags: Middle EastWorkforce
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Lesley Miller

Lesley Miller

Lesley Miller is Managing Editor of Allwork.Space, and is based in Tampa, Florida. She is a word nerd who has worked as an editor, writer, and custom content marketer for more than 10 years. She enjoys freelance travel writing as a way to relive her best travel experiences and find inspiration for future trips.

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