Minimum wage

The minimum wage in Türkiye has been increased by 30 percent in a midyear adjustment to a net of 5,500 Turkish Liras (around $300), President Recep Tayyip Erdoğan announced on July 1.

The increase came on top of the 50 percent hike in January, which brought the minimum wage to a net of 4,250 liras.

President Recep Tayyip Erdoğan announced that the minimum wage will be raised by 30 percent to a base of 5,550 Turkish Liras.

The minimum wage for 2022 initially was raised more than 50 percent to a base of 4,250 Turkish Liras ($275) in December.

Türkiye, Economy,

Against the background of inflation affecting European countries, minimum wage workers in 15 out of 21 Member States with statutory minimum wages registered a decline in their wages in real terms between 1 January 2021 and 1 January 2022. This was despite comparatively large increases in nominal rates in the EU during the period.

As of Sunday, May 1, the minimum wage increased by 7.5 pct, on top of the 2 pct increase introduced in January 2022, rising to 713 euros per month from 663 euros previously. The corresponding minimum daily wage will increase to 31.85 euros from 29.62 euros.

Moving in the right direction is the increase of the minimum wage, as it strengthens the income of the low paid and at the same time can "breathe life" in to the market, as noted in a statement by the president of the Athens Chamber of Commerce, Giannis Chatzitheodosiou.

The Minister of Labor, Kostis Hatzidakis, spoke on the "Koinonia Ora MEGA" television show about the increase of the minimum wage.

High expectations for the increase of the minimum wage, which may even exceed 6%, are cultivated by the government, while the process has entered its final stage with the Centre of Planning and Economic Research-KEPE today, Friday 15 April, to deliver to the Minister of Labor the conclusions of the dialogue between scientific and social actors.

North Macedonia's Union of Workers in Education, Science and Culture, SONK, is expected to continue talks on Wednesday with the Education Ministry over its demands for an immediate pay rise and a series of further salary increases linked to the cost of living over the coming years.

The minimum wage will remain at the level of BGN 710 (EUR 363) until 2025, it is clear from the draft of the new medium-term budget forecast of the Ministry of Finance. It envisages a lower rate of annual growth of pensions - from July 1, 2023, it will be 9.1 percent, and in the coming years, the indexation will be respectively 6.9 and 5.4 percent.

Outstanding pensions, court decisions on retroactive pension amounts, raising the minimum wage and the financial productivity incentives of civil servants introduced by the government, are once again entering the crisis of the European institutions, according to the 14th assessment of the national economy.