Türkiye to hike minimum wage 54.5% in 2023

ANKARA

Türkiye is raising the minimum wage by 54.5% as of Jan. 1, President Recep Tayyip Erdogan announced on Thursday.

The net minimum wage for single people will be 8,500 Turkish liras ($455) a month, up from 5,500 liras a month ($295), the president said.

According to the latest data from the Turkish Statistical Institute (TurkStat), Türkiye's annual consumer inflation rate was 84.39% in November, down from 85.51% in October.