Turkey Raises Minimum Wage by 30%, Boosting Rate Cut Chances

Turkey raised the minimum wage by 30% for 2025, providing a relief to investors looking for concrete steps to dial back populist policies and commit to curbing one of the world’s highest inflation rates.

The monthly minimum wage has been raised to 22,104 liras ($627) for 2025 from 17,002 liras, Labor Minister Vedat Isikhan said on Tuesday. The increase was in line with market expectations. More than a third of the labor force is on minimum wage, which also serves as a benchmark for other salaries.