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Turkey Raises Minimum Wage Sharply to Offset Higher Prices

  • Rising costs lowered the living standards of wage earners
  • Minimum wage earners make up more than 40% of total workforce
Turkey Eases Lockdown Measures
Photographer: Kerem Uzel/Bloomberg
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Turkey’s minimum wage will rise 50% in 2022 to help offset living costs that have surged as the central bank unleashed a series of lira-weakening interest-rate cuts to support President Recep Tayyip Erdogan’s push to rewire the economy.

The monthly net minimum salary will be 4,250 liras ($275), Erdogan said during a televised press conference. In 2021, it stood at 2,826 liras, a figure that converted to $380 at the start of the year but has fallen to $186 with the lira’s 51% depreciation.