Turkey hikes minimum wage

Turkey hikes minimum wage

Turkey’s minimum wage will go up 55% in 2023. The monthly net minimum salary will be 8,500 liras ($455), Turkish President Recep Tayyip Erdogan said Thursday in Ankara in a televised speech.

The latest hike is an attempt to cushion households from inflation that the central bank predicts will exceed 22% next year after ending 2022 at just over 65%. 

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