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Türkiye's minimum wage debates amid global comparisons

Spending Turkish lira wisely is more crucial than ever. (AA Photo)
Spending Turkish lira wisely is more crucial than ever. (AA Photo)
July 13, 2024 05:42 PM GMT+03:00

As discussions on minimum wage continue in Türkiye, the country's global position is increasingly under scrutiny. Compared to BRICS nations, all of which have minimum wages below $412, Türkiye stands out with a minimum wage of $515, the highest among these countries. However, in Europe, Türkiye ranks second to last with a minimum wage equivalent to 480 euros, highlighting significant disparities across different regions.

Despite ongoing debates, the government has announced there will be no "interim increase." Nevertheless, unions like DISK, TURK-IS, and HAK-IS held a joint press conference last week, demanding an immediate wage increase through a 10-point declaration.

In Türkiye, the six-month inflation rate surged to 24.73%, leading to a corresponding rise in retiree benefits. Concurrently, salaries for civil servants and retired civil servants saw a 19.31% increase.

Continuation at 17,000 for minimum wage

For the past two years, the minimum wage, which has seen interim increases, currently stands at a net ₺17,000. If no interim increase occurs, this amount will remain unchanged until the end of the year. Recently, Treasury and Finance Minister Mehmet Simsek stated that the minimum wage in dollar terms is "not at low levels" compared to similar countries.

Minimum wage comparison

Region / Country

Minimum wage ($)

Minimum wage (€)

Remarks

Türkiye

515

480

Second lowest in Europe

BRICS Countries

Russia

218

200

Lowest among BRICS

South Africa

248

228

Indonesia

325

299

China

370

340

Brazil

412

379

Highest among BRICS

European Countries

Bulgaria

-

477

Lowest in Europe

Romania

-

663

Hungary

--

697

Lithuania

-

700

Slovakia

-

750

Highest among lowest 5 in Europe

Other Countries

Morocco

344

316

Georgia

299

275

Mexico

271

249

Azerbaijan

221

203

Ukraine

192

177

Tunisia

174

160

Egypt

136

125

When compared to neighboring countries and other developing nations, Türkiye's minimum wage appears relatively higher.

July 13, 2024 05:42 PM GMT+03:00
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