New Minimum Wage in TRNC May Be Set Today

The Commission for Determining the Minimum Wage in Northern Cyprus convened for its regular session today. The new minimum wage could be set as early as today.

The meeting commenced at the Ministry of Labor and Social Security on Tuesday, May 14th, at 14:00. The commission comprises 15 members, including representatives from the government, employers, and trade unions.

It is expected that during today's commission meeting, the parties will express their specific expectations in numbers. It is planned that the second minimum wage of this year will also be set today.

Recall that the first meeting of the commission took place last Friday, May 10th. At that time, the parties agreed that the upcoming new minimum wage in the TRNC would exceed the inflation rate of the last four months, which stands at 22.98%. Additionally, an agreement was reached that the new wage would be retroactively implemented starting from May 1st.

The current minimum wage in Northern Cyprus was determined in early January 2024. As of today, it is 24,000 Turkish lira for private sector employees and 34,430 Turkish lira for civil servants.

Earlier, the Statistical Institute of the TRNC announced April's inflation rate at 6.91%. Compared to December of last year, prices have increased by 22.98%, with annual inflation standing at 95.60%.

Meanwhile, the Union of Civil Servants of Cyprus and Turkey (KTAMS) announced that the poverty line for a family of four as of April 30th is 23,559 Turkish lira.