Turkey to raise minimum wage by 14.5 pct

By Gokhan

ANKARA

Turkey is raising its minimum wage by 14.5 percent as of New Year’s Day to 1,603 Turkish liras per month ($422.4), the labor minister said Friday.

The new gross minimum wage, before deductions such as social security premiums and income taxes, is 2,029 ($534.6).

"We will continue our minimum wage support in 2018," said Labor Minister Julide Sarieroglu.

Since 2015, the Treasury gives minimum wage support to employers to help them reduce employment costs.

The new minimum wage is significantly below the demand of workers’ representatives.