Turkey’s new minimum wage erodes by 329 liras in two weeks before received by workers

The dollar equivalent of Turkey’s minimum wage of 17,002 liras to be applied for 2024 has eroded 329 Turkish liras ($11) from Dec. 27, 2023, the day the new minimum wage was announced, to Jan. 10 before received by the workers.

Duvar English

The dollar equivalent of the minimum wage of 17,002 Turkish liras to be applied for the 2024 has decreased by 11 dollars from Dec. 27 2023, the day the minimum wage was announced, to Jan. 10, 2024.

While the minimum wage was $578 when it was first announced, it dropped to $567 as of Jan. 10, resulting in 329 liras in difference. The new minimum wage will not be received by the workers until the end of January.

The exchange rate of the dollar, which was 29.34 liras on Dec. 27, rose to 29.94 liras in 13 days due to severe depreciation of lira.

In June 2023, the minimum wage was increased to 11,402 liras. It corresponded to $482 on the day it was announced and eroded by $32 (800 liras at the exchange rate of the time) before it was received by the workers for the first time. 

The previous minimum wage also eroded by $96 in six months.