Inflation Takes Minimum Wage Below Poverty Line

North Cyprus News - Falling Lira

Thursday, 7 July 2022

The minimum wage for a family of four should be 9,046 TL, Chairman of the Cyprus Turkish Public Officials Union (KTAMS), Güven Bengihan said, Kibris Postasi reported.

Currently, there is a shortfall of 2,956 TL for the minimum salary, he said. The cost of living increased by nearly 10 percent in June

Bengihan urged the Minimum Wage Commission to convene as a matter of urgency [they are meeting this evening as previously reported].

Under these conditions, even public and private sector employees and their families, who are minimum wage earners, do not have the opportunity to eat healthily“, Bengihan said.

When the minimum wage was 3,828 TL in March 2021, it was equivalent to £332, the minimum wage, which is 6, 900 TL today, has decreased in value to £295. Considering that the prices of many goods and services in our country are indexed to foreign currency, it can be seen that the purchasing power of the minimum wage worker has not increased, on the contrary, it has eroded rapidly”, the union leader said.

Kibris Postasi

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