The new minimum wage has been set at ₺11,800 net and ₺13,563 gross.

The new wage was announced by the Minister of Labour and Social Security Hasan Taçoy following Tuesday’s meeting of the Minimum Wage Commission.

Taçoy also said that the government will be providing a 50 per cent subsidy to businesses that hire between five and ten employees.

Speaking to reporters, Labour Minister Hasan Taçoy said that representatives of both employees and employers had rejected the government’s initial offer to set the minimum wage at ₺11,500 only to soften their stance once the government offered to continue to pay half of the social security premiums of businesses with up to ten employees.

He added that the government will continue to take steps that will help the economy grow and will inspect markets to curb profiteering schemes.

The new wage was published in the official gazette on Wednesday as an advisory decision marking the beginning of a 10-day objection period.

The new minimum wage will be effective as of January 1.