New Minimum Wage Approved Without Changes

The new minimum wage has been officially approved in Northern Cyprus. The commission responsible for setting the wage held a crucial meeting today, during which it reviewed objections from employers but ultimately decided to uphold the previously established decision.

According to the commission's ruling, the new minimum wage in Northern Cyprus will be set at 35,180 Turkish lira net (take-home pay) and 40,436 Turkish lira gross (before tax deductions), effective from September 1, 2024. This marks a 19.19% increase compared to the previous minimum wage.

It’s important to note that on September 18, the commission established the minimum wage at 35,180 Turkish lira net and 40,436 Turkish lira gross. Employers were not present at that meeting, as they argued that the minimum wage undermines competitiveness.

Following the publication of the decision in the "Official Gazette," a 10-day period for appealing the ruling began, which expired last Saturday, September 28. On September 25, the Union of Turkish Cypriot Employers expressed their opposition to the minimum wage decision.

Today, after considering the employers' arguments, the parties unanimously voted to accept the previous decision without changes.

The regulation regarding the new minimum wage in Northern Cyprus will be published in the "Official Gazette" today and will take effect retroactively from September 1.