Turkey Hikes monthly minimum wage by 55% to Ease Sting of Inflation 

Recently Turkey Hiked monthly minimum wage by 55% will be 8,506.80 lira ($455) in 2023, the Turkish presidency said on Thursday, marking a 55% increase from the level determined in July and a 100% hike from January.

In 2023 in a bid to help ease the burden of soaring living costs on millions of people just months ahead of elections Government takes this decision.

Speaking at a news conference earlier, President Tayyip Erdogan said minimum wage may be hiked again throughout the year if necessary. Annual inflation soared above 85% in recent months but has begun to ease slightly.

Erdogan said the employer and employee unions could not reach an agreement and the government stepped in to determine the number. Representatives from the employee union did not attend the announcement at the presidential palace.

At the time of writing 1 USD is equal to 18.67 Turkish lira.

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