Türkiye raised the month-to-month minimal wage by 49% to TL 17,002 ($578.1) starting Jan. 1, Labor and Social Security Minister Vedat Işıkhan introduced Wednesday.
Işıkhan’s announcement got here after days of discussions of the Minimum Wage Determination Commission.
The improve is predicted to assist increase buying energy amongst employees, over a 3rd of whom earn the minimal wage.
Speaking after the announcement, Ergün Atalay, the president of the Confederation of Turkish Labor Unions (Türk-İş) mentioned that they requested TL 18,000 and biannual negotiations, however their request was turned down.
The minimal wage introduced Wednesday will likely be fastened all through 2024 and there will likely be no different negotiations to boost it till subsequent yr.
Türkiye’s annual inflation charge edged up barely in November to 61.98% from 61.36% in October.
Last month, the central financial institution mentioned tightening could be accomplished in a brief interval.
It mentioned home demand seems to be moderating; nevertheless, its present excessive stage, together with stickiness in service costs and geopolitical dangers, preserve inflation pressures alive.
Source: www.dailysabah.com
