Northern Cyprus has undergone significant changes in economic policy, especially regarding the minimum wage . The commission to determine the minimum wage in the TRNC, after long debates and three attempts, decided by a majority vote to significantly increase this economic indicator.
From May 1, 2024, the minimum wage will be 29,640 Turkish lira (after taking into account all tax deductions - 34,070 Turkish lira ). 23.5% increase is the second this year and reflects the government's efforts to respond to economic challenges including inflation.
The timing of the decision was tense - the start of the commission meeting, scheduled for 9:00, was postponed and began only at 18:00. The discussion lasted almost 3 hours .
The payment amounts will now be as follows:
- 7,862.30 TL weekly,
- 1,572.46 TL per working day,
- 196.55 TL per hour.
The decision sparked controversy, with employer voting against the increase, saying they should not be held responsible for the country's inflation. However, government and labor reached a consensus.
TRNC's Minister of Labor and Social Protection , Sadık Gardiyanoglu, expressed gratitude to all parties for their participation and expressed hope that the new minimum wage will benefit all segments of the population.
This change comes after the previous determination of the minimum wage in early January 2024, when it was set at 24 thousand Turkish lira for the private sector and 34,430 Turkish lira for civil servants. This new increase highlights the government's response to changing economic conditions and represents an important step towards improving the lives of workers in Northern Cyprus.
