Vedat

Minimum wage hiked by 49 percent for 2024

The monthly met minimum wage will be 17,002 Turkish Liras ($578) in 2024 for millions of employees, Labor and Social Security Minister Vedat Işıkhan has announced.

The new minimum wage level is 49 percent higher compared with July, when the wage was increased in a mid-year adjustment. It marks a 100 percent hike from January last year.

Minimum wage talks set to kick off

The commission, comprised of representatives from the government, employers' and labor unions, is set to hold the first round of talks on the minimum wage for millions of workers today.

The Minimum Wage Determination Commission will meet four times in December before announcing the wage, which will take effect in 2024.

Budget posts 49 billion liras surplus

The central government budget produced a surplus of 48.6 billion Turkish Liras ($1.8 billion) in July after posting a large deficit of 219.6 billion liras in June, the Treasury and Finance Ministry has said.

Revenues grew 156 percent last month from a year ago to 504.4 billion liras, with tax collection rising nearly 177 percent.

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