Review Period for New Minimum Wage in TRNC Extended to 10 Days
A period of objections has commenced in Northern Cyprus regarding the new minimum wage, with a 10-day allocation for debates.
Yesterday, an extraordinary session of the Council of Ministers convened in the TRNC to discuss the minimum wage, set to be enforced from May 1, 2024, and published in the "Official Gazette." Alongside this decision, interested parties were granted a 10-day window to submit objections.
As a reminder, the Commission for Determining the Minimum Wage decided, by a majority vote, to establish the minimum wage at 29,640 Turkish lira (34,070 Turkish lira post-tax deduction). This translates to 7,862.30 TL per week, 1,572.46 TL per working day, or 196.55 TL per hour. This increase represents a 23.5% raise.
While representatives of the government and workers reached a consensus on this decision, the employers' side voted against the raise.
Read more: Understanding the recent fluctuations in Northern Cyprus's minimum wage.
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