Turkish President Recep Tayyip Erdoğan’s speech on Friday, July 1, regarding an increase in the minimum wage in the second half of 2022 was eagerly awaited by millions of people in the country.
It is worth recalling that as recently as yesterday (June 30, 2022), the minimum wage in Turkey of 4,253 lira converted to foreign currency was 253 U.S. dollars or 243 euros.
“We are raising the minimum wage by 30 percent starting in July. Accordingly, the net minimum wage will be 5,500 Turkish liras. Our state will give employers support of 100 Turkish liras per employee […] This is an interim increase. The main increase will be adopted again at the beginning of next year,” President Erdoğan told a press conference along with the heads of the country’s largest trade unions Türk-İş and TİSK.
As of today (July 1, 2022), this “net wage” (net), i.e. payments minus all taxes and fees, is $328 or 315 euros and is the lowest in recent memory.