(Bloomberg) — President Recep Tayyip Erdogan is expected to hike Turkey’s minimum wage for 2022 on Thursday, two people with knowledge of the plan told Bloomberg.
The size of the expected rise was not immediately clear. More than 40% of all workers in Turkey earn minimum wage, according to the country’s Social Security Institution, meaning the hike will ripple broadly through the economy at a time when polls show Erdogan’s popularity slipping.
Rising Prices Defy Data and Stoke Anger in Turkey
The monthly minimum wage for 2021 was 2,826 liras, a figure that converted to $380 at the start of the year but has fallen to $186 with the lira’s 51% depreciation this year.
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