Turkey is raising the minimum wage by 54.5% as of Jan. 1.
The country’s President Recep Tayyip Erdoğan made the announcement on Thursday.
Erdoğan announces new minimum wage
The net minimum wage for single people will be 8,500 Turkish liras ($455) a month, up from 5,500 liras a month ($295), the president said during the news conference.
According to the latest data from the Turkish Statistical Institute (TurkStat), Turkey’s annual consumer inflation rate was 84.39% in November, down from 85.51% in October.
A possible interim hike
Erdoğan also said, “If we come across an unexpected situation, we will not hesitate to make an interim hike as we did last year.”
