Finance Minister Simsek lists 10 countries over minimum wage debate
TBMM Genel Kurulunda Ticaret ile Hazine ve Maliye bakanlıklarının 2025 yılı bütçelerinin görüşmelerine devam edildi. Maliye Bakanı Mehmet Şimşek, Genel Kurul çalışmalarına katılarak konuşma yaptı. ( Güven Yılmaz - Anadolu Ajansı )
Treasury and Finance Minister Mehmet Simsek commented on the ongoing debate on the 2025 minimum wage adjustment by comparing the Turkish minimum wage to 10 other developing countries on Saturday.
Simsek highlighted that Türkiye’s current minimum wage is higher than that of several developing countries, including Romania, Bulgaria, Mexico, China, Brazil, South Africa, Indonesia, Russia, Egypt, and India.
In an unexpected move, the 2025 minimum wage was announced ahead of schedule, with the new figure set at ₺22,104 per month ($627) for approximately 7 million minimum wage earners. The wage increase, which fell below many expectations, prompted further scrutiny.
In a statement on social media, Simsek explained, “For the permanent increase in our workers’ purchasing power and welfare, price stability is a prerequisite. The main objective of the program we are implementing is sustainable high growth and a more just distribution of income.” This comment reflects the government’s long-term vision for a more equitable economy, where wage growth aligns with broader macroeconomic goals.
A key point that Simsek emphasized was the impressive employment growth in Türkiye over the past two decades. Between 2005 and 2024, the country added 13.7 million new jobs, averaging over 680,000 jobs per year. Since the implementation of the government’s new economic program following strict fiscal discipline beginning in June 2023, employment has risen by 1.4 million.
The finance minister also addressed comments on the continued outpacing of inflation by the minimum wage. In 2023, while inflation reached 64.8%, the minimum wage increased by 107.3%. Looking ahead to 2024, with inflation projected to be around 45%, the minimum wage is set to rise by 49.1%.
