Turkey’s Net Monthly Minimum Wage to Reach 22,104 Turkish Lira in 2025
Turkish President Tayyip Erdogan announced on Tuesday that the country’s net monthly minimum wage will increase 30% to 22,104 Turkish lira (approximately $630.36) in 2025. The minimum wage hike, which affects around 9 million workers and is seen as a benchmark for private sector salary increases, is expected to contribute to higher inflation in the coming months, according to economists.
According to Reuters calculations based on central bank studies, a 25% wage increase could raise annual inflation by between 1.5 and 5 percentage points. Despite this, Turkish inflation has been declining, with a 47.09% annual rate recorded in November, down from an annual high of 75% in May. The improvement in the print was slower than previously forecast, according to the central bank.