Turkiye raises minimum wage by 49% for 2024

With the new figure, "the net minimum wage has increased by 49 per cent compared to the previous (minimum wage) period and by 100 percent cumulatively compared to the previous year," he said, reported Xinhua.

The country's Minimum Wage Determination Commission nailed down the decision after several days of discussion, Isikhan told reporters.

Turkiye raised the monthly minimum wage by 34 per cent to 11,402 liras beginning July 1, 2023.

The commission consists of representatives from the government, labour union, and employers' association, each having one voting right. A simple majority vote is required for the decisions to become final, instead of unanimity.

Ergun Atalay, president of the Confederation of Turkish Trade Unions, who participated in the negotiations with the government on behalf of the workers, said the workers' expected minimum wage was 18,000 liras.

Atalay said these negotiations should be held twice a year, adding, "We will annotate the decision."

The hike came amid the country's stubborn inflation, with the annual inflation rate at 61.98 per cent in November.