Turkey falls behind Bulgaria in minimum wage, after recent increase in Dollar TL rate

The gross minimum wage which was 392 euros in Turkey at the beginning of the year, declined to 329 euros with the recent exchange rate increases. Thus, Turkey surpassed Bulgaria at the bottom of the EU with a minimum wage of 332 euros.

Devaluation of Turkish lira and high inflation impoverished the majority of the population, while Turkey overtook Bulgaria for the last place among the countries of the European Union in minimum wage.

According to the data of the European Statistical Office (Eurostat) as of 1 January 2021, the highest gross minimum wage was in Luxembourg with 2202 euros, while Bulgaria took the last place with 332 euros.

AT THE BEGINNING OF THE YEAR 392 EUROS, NOW 329 EUROS

According to the rate dated 1 January 2021, the gross minimum wage of 3,577 TL in Turkey was equivalent to 392 euros, and the minimum wage in Turkey was ahead of Bulgaria.

As of today, according to the euro/TL exchange rate of 10.85, the gross minimum wage in Turkey is at the level of 329 euros and lags behind Bulgaria. The gross minimum wage in Turkey has melted by 16 percent in euros in about 10 months.

As of today, the net minimum wage in Turkey is 260 euros.

LUXEMBOURG TOP OF THE LIST WITH 7 FOLD THE MINIMUM WAGE OF TURKEY

The country with the highest minimum wage in the EU is Luxembourg with 2202 euros. It is followed by Ireland with 1724 euros, the Netherlands with 1701 euros, Belgium with 1626 euros.

The EU’s number one economy has a gross minimum wage of 1585 euros in Germany, and its number two economy has a level of 1555 euros in France.