Jobs
Turkey Ends Speculation by Ruling Out Mid-Year Minimum Wage Hike
Workers move goods from a store in the Eminonu district of Istanbul.
Photographer: Kerem Uzel/BloombergThis article is for subscribers only.
Turkey has definitively ruled out a mid-year raise on the minimum wage that markets are watching to gauge the government’s commitment to fighting inflation of 75%, one of the world’s highest rates.
The country often increases salaries in early July and while there’s been speculation that wouldn’t happen this year, President Recep Tayyip Erdogan is yet to make an explicit announcement.