Türkiye raises monthly minimum wage by 49% for 2024

Turkiye will increase the nation’s MINIMUM WAGE by 49% in 2024, as announced by the Minister of Labour and Social Security. Following a meeting in Ankara with workers and employers convened by President Erdogan, Minister Işıkhan addressed the media, stating, “In July, the net minimum wage stood at 11,402 TRY. Now, considering a minimum wage support of 700 liras, we have set bringing the gross monthly minimum wage to 20.002 TRY and the net wage to 17,002 TRY. May it bring benefits to our country and its people.”

For the year 2024 in Turkiye, Minister Isikhan officially announced the new minimum gross wage of 20.002 TRY and minimum net wage of 17,002 TRY, a 49% increase compared to the previous period and a cumulative rise of 100% from the previous year. Expressing the government’s commitment to supporting workers, employers, and citizens of the entire country.

Minister Isikhan highlighted, “We have achieved a 3.5-fold increase in the minimum wage in real terms. Our state continues to stand by workers, employers, and all citizens through its various institutions and organizations.”

Key points from Minister Isikhan’s remarks included:

• Acknowledgment of the completion of the commission’s work, emphasizing the minimum wage’s role as the lowest limit in wage policies.

• Gratitude to stakeholders, including representatives Ergun Atalay and Ozgur Burak Akkol, for their positive approach and consensus-building efforts.

• Recognition of the importance of a constructive approach for social consensus, expressing gratitude to unions, institutions, ministries, and colleagues.

• Belief that the newly determined amount will satisfy all citizens, especially those subject to the minimum wage and their families.

The Labour Union in Türkiye demanded the mınımum wage be ıncreased to 18,000 TRY and that the wage be ıncreased two tımes per year ınstead of once.

Finalized at the end of December 2023, the new wage will take effect 1st January 2024, which means that employers will in most cases be obligated to observe this when they pay salaries at the end of January for work in January 2024.

In conclusion, Minister Isikhan thanked President Erdogan, Minister, and representatives for their contributions to the commission’s work, recognizing the destructive impact of inflation on the working class and expressing appreciation for the collaborative efforts in reaching the determined figure.