ISTANBUL (Reuters) – Turkey's net monthly minimum wage will reach 22,104 Turkish liras ($630.36) in 2025, representing a 30 percent increase from 2024, President Recep Tayyip Erdogan said on Tuesday.
The minimum wage hike, which affects about 9 million workers and is seen as a benchmark for private sector pay increases, is expected to lift inflation in the coming months, according to economists.
According to Reuters calculations based on central bank studies, a 25% wage increase would raise annual inflation by between 1.5 and 5 percentage points.
Turkish inflation fell to 47.09% in November from an annual high of 75% in May, mainly due to tightening monetary and fiscal policies. However, the improvement in printing was slower than previously expected according to the central bank.
($1 = 35.0659 liras)
