With the most recent increase in July raising the minimum wage to 11,402 TRY, many people are wondering how much it will be in the coming year. On TGRT Haber’s program “Günaydın Türkiye,” journalist Cem Küçük addressed this question and also discussed inflation expectations.
How Much Will the Minimum Wage Be?
Finance Minister Mehmet Şimşek previously stated that future increases would be guided by target inflation. That framework remains central to predicting next year’s minimum wage.
Cem Küçük noted that expected inflation for 2024 is around 33% for the first half of the year and about 38% for the second half. He said any increase would likely fall between those two figures.
Küçük added that if inflation reaches roughly 38%, the minimum wage could reflect an increase of about 4,400 TRY, putting the wage in the 15,000–16,000 TRY range.
2024 Minimum Wage Projection
In his projection for the 2024 minimum wage, Cem Küçük reiterated his view that the figure is likely to fall between 15,000 and 16,000 TRY. He also noted that public expectations currently center around an increase of approximately 35%.
Based on statements from government sources and prevailing public sentiment, analysts anticipate the minimum wage in 2024 will exceed 15,000 TRY.
If a 35% raise is applied, the minimum wage would rise to roughly 15,400 TRY, according to these estimates.