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Turkey raises minimum wage by 50 percent against Lira crash and high inflation rate. President Recep Tayyip Erdogan has announced on Thursday minimum wage will raise by 50 percent starting next year. On the other hand today on Friday, Turkish Lira hit a new record low of 17 Dollar. After the Istanbul Central Bank intervention, the Dollar/TL rate decreased to 16.50 levels. Turkey's stock market Borsa Istanbul closed the week with sharp declines and two times circuit breaker.
Turkey raises minimum wage by 50 percent against Lira crash and high inflation rate. President Recep Tayyip Erdogan has announced on Thursday minimum wage will raise by 50 percent starting next year. On the other hand today on Friday, Turkish Lira hit a new record low of 17 Dollar. After the Istanbul Central Bank intervention, the Dollar/TL rate decreased to 16.50 levels. Turkey's stock market Borsa Istanbul closed the week with sharp declines and two times circuit breaker.
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