Turkiye raises national minimum wage by 50% in 2022

President Recep Tayyip Erdogan has announced that Turkiye is raising the minimum wage by 50.4 percent as of January 1.

The net minimum monthly wage will be 4,250 Turkish liras ($275), Erdogan said on Thursday.

"In 2022, the lowest figure of the minimum wage will be 4,250 Turkish lira. This figure will be higher, depending on whether the employee is married and the number of children they have. 

"The increase of 50 percent takes the minimum wage to the highest figure in the past 50 years. I hope the new amount will be beneficial to our employees, employers and our country," said Erdogan.

"I believe that, with this increase, we have shown our determination not to crush our employees in the face of price hikes," Erdogan stressed.

The monthly minimum wage for 2021 was 2,826 Turkish lira.

Erdogan also announced that starting next year, Turkiye will abolish income and stamp tax collected on the minimum wage.

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

Turkiye's annual inflation stood at 21.31% in November, while the 12-month average rise in consumer prices was 17.71%.