Minimum wage for 2022 raised 50 percent

Minimum wage for 2022 raised 50 percent

Minimum wage for 2022 raised 50 percent

Turkish President Recep Tayyip Erdoğan announced that the minimum wage for 2022 will be raised more than 50 percent to a base of 4,250 Turkish Liras ($275).

“I believe that, with this increase, we have shown our determination not to crush our employees in the face of price hikes,” he told a news conference on Dec. 16 

Erdoğan also said income tax and stamp tax on minimum wage will be removed to ease the burden of employers. That will reduce the share of the gross minimum wage paid by employers around 400 liras, according to estimates.

He also said that the government is resolute in putting an end to uncertainty due to fluctuations in the exchange rate, and exorbitant price increases as a result, immediately.

The minimum wage varies in accordance with martial status and the number of dependants.

Nearly 6 million Turkish workers and laborers rely on minimum wage, which is currently 2,825 liras ($213.6).

A commission of officials and representatives of labor and trade unions held several meetings to determine the new minimum wage level this month.

The Confederation of Turkish Trade Unions (Türk-İş) last week announced that the threshold of 4,000 liras was their “red line” for the minimum wage.

The Labor and Social Security Ministry has conducted a large-scale survey among laborers and employers.

Slightly more than a third of the respondents among the employers favored the new minimum wage to stay between 3,500 liras and 3,750 liras, while 20 percent of them suggested a minimum wage between 3,250 liras and 3,500 liras.

Turkey, Economy, Erdogan,