In Which Country Has The Minimum Wage Increased The Most In The Last 20 Years?

The minimum wage discussions in Turkey came to the fore again as we approached the new year. Inflation, which has increased significantly this year, and the depreciation of the Turkish Lira, brought with it the expectation of an extraordinary increase in the minimum wage. Minimum wage is 3,577 TL gross since the beginning of 2021, net 2,825 TL being implemented.

So, how did the minimum wage change among developing economies in Europe apart from Turkey? According to the data presented by Eurostat, the emerging economies in Europe, including Turkey, The increase in the minimum wage in the last 20 years in euros as follows:

Countries with the highest minimum wage increases in the last 20 years:

1. Romania
   • 2001 minimum wage: 41.42 euros
   • Minimum wage for 2021: 466.72 euros (1,026% increase)
2. Bulgaria
   • 2001 minimum wage: 40.42 euros
   • Minimum wage for 2021: 332.34 euros (722% increase)
3. Slovakia
   • 2001 minimum wage: 100.15 euros
   • Minimum wage for 2021: 623 euros (522% increase)
4. Latvia
   • 2001 minimum wage: 86.75 euros
   • Minimum wage for 2021: 500 euros (476% increase)
5. Lithuania
   • 2001 minimum wage: 115.50 euros
   • Minimum wage for 2021: 642 euros (455% increase)
6. Albania
   • 2001 minimum wage: 52.80 euros
   • Minimum wage for 2021: 244.56 euros (363% increase)
7. Hungary
   • 2001 minimum wage: 150.94 euros
   • Minimum wage for 2021: 476 euros (215% increase)
8. Poland
   • 2001 minimum wage: 197.41 euros
   • Minimum wage for 2021: 619.46 euros (213% increase)
9. Spain
   • 2001 minimum wage: 505.89 euros
   • Minimum wage for 2021: 1,108.33 euros (up 119%)
10. Portugal
    • Minimum wage in 2001: 389.89 euros
    • Minimum wage for 2021: 775.83 euros (99% increase)
11. Turkey
    • 2001 minimum wage: 224,17 euros
    • Minimum wage for 2021: €346.62 (54% increase)
12. Greece
    • 2001 minimum wage: 543.55 euros
    • Minimum wage for 2021: €758.33 (39% increase)