The Turkish government has increased the minimum wage by 49 percent

The Turkish government has increased the minimum wage by 49 percent.

The Turkish government has increased the minimum wages for the next calendar year by 49 percent.

Zehra Zümrüt Selçuk, the Turkish Minister of Labor, announced on Thursday, January 6th, that the minimum wage in the country for the next calendar year will be 17,000 lira ($578).

Turkey had also increased the minimum wage in July of this year, and overall, this figure will have a 100 percent growth from the beginning of the current calendar year to the beginning of the year 2024.

The reason for the doubling of minimum wages in one year is the high inflation in Turkey, which reached over 85 percent in October of last year but has now dropped to below 62 percent.

On the other hand, the depreciation of the Turkish lira has also continued over the past few years, and this year it has lost 35 percent of its value.

The International Monetary Fund has predicted that Turkey will also experience an inflation rate of over 62 percent next year, and high inflation is expected to continue in this country until 2028.