Northern Cyprus announces new minimum wage of 29,640 TL net

The government of Northern Cyprus has announced a new minimum wage of 29,640 TL net.

The new minimum wage determined by the Wage Commission was announced on Monday May 20 and took effect as of May 1, 2024.

The new minimum wage which is the second of 2024 was increased by 23.5%.

Accordingly, the new minimum wage was determined as 29,640 TL net and 34,070 TL (gross).

Announcing the new rate, the Minister of Labour and Social Security Sadık Gardiyanoğlu said the new minimum wage was approved by a majority vote, reflecting the votes of both state and worker representatives.

“The new minimum wage is net 29,640 TL, gross 34,070 TL, 196.55 TL hourly, 1,572.46 TL daily, and 7,862.30 TL weekly.”