ANKARA, Dec 16 (Reuters) – Turkey will hike its minimum wage by a massive 50% to 4,250 lira ($275.44) per month next year to address a currency crash and inflation spike, President Tayyip Erdogan said on Thursday. The dollar value of the 2021 minimum wage – some 2,825 lira monthly – has tumbled to $185 from $380 at the start of the year due to the currency crisis, Turkey’s second in four years. The government would also lift taxes on the minimum wage to ease burdens on employers, he said. read more“Our currency is known, and it is the lira, and we will not let it be swallowed,” Erdogan said. Erdogan said stability will be ensured with new measures in the coming days, but did not specify what they were.
