A new minimum wage has been announced in Turkey. The TRNC is next in line

The authorities of Turkey have increased the minimum wage. Raises are expected in Northern Cyprus from the new year.

Yesterday evening, the Minister of Labor and Social Security of Turkey, Vedat İşhanoğlu, announced the new minimum wage in the country, set at 17,002 lira. It will come into effect on January 1, 2024.

"We are pleased that once again we have fulfilled our promise not to expose our employees to inflation with the help of the new amount," commented the minister on the decision.

Recall that the last time the minimum wage in Turkey was increased was in June of this year – it currently stands at 11,402 lira net (approximately $480) or 13,414 lira after all taxes.

It was previously reported that in Northern Cyprus, the new minimum wage will also be set from January 1, 2024. The exact amount will be determined soon.

On July 12, the new minimum wage in Northern Cyprus was fixed at 18,103 Turkish lira (before tax deductions). The final amount to be paid is 15,750 Turkish lira. This decision was appealed several times by trade unions but remained unchanged.

Before the July increase, from January 1, 2023, the minimum wage in Northern Cyprus was 13,563 Turkish lira (before tax deductions). After all taxes, employees received a minimum of 11,800 TL.