Minister of Labor Vedat Işıkhan announced the minimum wage that will be effective as of July 1, 2023: 11 thousand 402 TL.
It will be valid in the second half of 2023 gross minimum wage 13 thousand 414 TL, net minimum wage amount of 11 thousand 402 TL was determined as. Thus, the minimum wage increased by 34.01%.
On the other hand, the net minimum wage is now equivalent to $482.46 as of 11:54 p.m. on June 20.
The minimum wage statement of the Minister of Labor Vedat Işıkhan is as follows:
“With this increase we have made, we have realized an interim increase at a rate of 34%, which is well above the inflation rate and includes the welfare share. We have increased the minimum wage by 107% compared to the second quarter of the previous year.”
Last announced by TUIK for May 2023 annual inflation rate 39.59% while; it is seen that this rate has decreased since November 2022. As a matter of fact, according to 12-month averages, the inflation rate in Turkey is 63.72%.
After the official minimum wage rates are determined, wage improvement in the private sector will be made according to this rate.