In TRNC, a new minimum wage may be established today

In Northern Cyprus, today marks another session of the commission on setting the minimum wage. Last time, the parties failed to reach a consensus.

The third session began on Monday, May 20th, at 9:00 at the Ministry of Labor and Social Security. The commission comprises 15 members – representatives from the government, employers, and unions.

It is expected that during today's commission meeting, the parties will be able to reach an agreement and set a new minimum wage in Northern Cyprus.

The first session of the commission took place on Friday, May 10th. At that time, the parties agreed that the upcoming new minimum wage in 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 applied, starting from May 1st.

At the second session, held on Tuesday, May 14th, union representatives insisted on a 27% increase in the minimum wage, amounting to 30,480 Turkish lira net and 35,095 Turkish lira gross. However, employers proposed a raise of 18%, while the government suggested 23%.

Ultimately, the unions agreed to the terms suggested by the government, but negotiations stalled again as the employers refused to compromise.

The current minimum wage in Northern Cyprus was set at the beginning of January 2024. Currently, it stands at 24,000 Turkish lira for private sector employees and 34,430 Turkish lira for public servants.

Earlier, the Statistical Institute of TRNC announced an inflation rate of 6.91% in April. Compared to December of the previous year, prices have risen by 22.98%, with annual inflation reaching 95.60%.

At the same time, the Cyprus, and Turkey Public Servants Union (KTAMS) declared that the poverty line for a family of four as of April 30th is 23,559 Turkish lira.

Read also: History of Changes in the Minimum Wage in Northern Cyprus.