2023-12-27T18:52:16+00:00
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/ The Turkish Minister of Labor, Widad Isik Han, announced today, Wednesday, that the minimum monthly wage in Turkey will reach 17,002 Turkish liras ($578.31) in 2024, an increase of 49% from the level set last July and an increase of 100% from last month. First past.
Turkey’s annual inflation rate increased to 61.98 percent in November, the highest level this year but slightly below expectations, indicating that a strong cycle of interest rate hikes may be starting to bear fruit in cooling demand.
Inflation rose after a currency crisis at the end of 2021 and touched its highest level in 24 years at 85.51 percent in October last year. This year, the lira has so far lost about 35 percent of its value, exacerbating the cost of living crisis for Turks.