reading time: 3 min.

Minimum Wage Increased to Net 29,640 TL

Minimum Wage Increased to Net 29,640 TL

The Minimum Wage Determination Commission has set the second minimum wage for 2024 at a net 29,640 TL. The decision, which reflects a 23.5% increase, was reached by majority vote and will be implemented from May 1, 2024. The gross minimum wage will be 34,070 TL.

Publish Date: 21/05/24 11:31
reading time: 3 min.
Minimum Wage Increased to Net 29,640 TL
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The Commission convened for the third time to finalize the second minimum wage for 2024. The meeting began at around 6:00 PM and concluded by 8:30 PM.

While the new minimum wage was approved by the state and worker representatives, the employer representatives voted against it.

Following the meeting, Minister of Labor and Social Security Sadık Gardiyanoğlu expressed gratitude to the worker and employer representatives for their contributions.

Gardiyanoğlu's Remarks

Gardiyanoğlu noted that the proposals from the state, employers, and workers were not significantly different. "We would have preferred a unanimous decision," he said. He announced that the new minimum wage, approved by the state and worker representatives, will take effect on May 1, 2024, and wished everyone well.

The new minimum wage will be implemented as follows:

  • Gross: 34,070 TL
  • Net: 29,640 TL
  • Weekly: 7,862 TL 30 kuruş
  • Daily: 1,572 TL 46 kuruş
  • Hourly: 196 TL 55 kuruş

Cengiz Alp's Remarks

Cengiz Alp, the representative of the Cyprus Turkish Employers' Union, stated, “Employers are not responsible for the inflation in this country.” He emphasized that the employers voted "no" and criticized the method used to determine the minimum wage, describing it as a base price. Alp highlighted that while the minimum wage in South Cyprus represents 30% of the national income, in the TRNC, it reaches 80%.

Ahmet Serdaroğlu's Remarks

Ahmet Serdaroğlu, President of the Free Workers' Unions Federation (Hür-İş), echoed the demand for reflecting the cost of living increase in the minimum wage. He noted that the current adjustment was slightly above the cost of living increase. Serdaroğlu explained that the new wage would initiate the objection process once published in the Official Gazette and thanked Minister Gardiyanoğlu for making a positive step.

Serdaroğlu also called on the government to take the fight against inflation seriously, urging no further price increases or wage hikes.

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