Turkey will increase gross minimal wage by greater than 21% in 2021

© Reuters. FILE PHOTO: Headquarters of the Turkish Central Bank in Ankara

ANKARA (Reuters) – Turkey will increase its minimum wage by 21.56% gross and 16% net in 2021, equivalent to a monthly net wage of 2,825 Turkish liras ($ 376.71), the labor minister said Monday.

Zehra Zumrut Selcuk made the announcement, which was broadcast on television, saying the wage increase was seven percentage points higher than the inflation rate in November.

The Turkish central bank has an inflation forecast of 12.1% for 2020 and 9.4% for 2021.

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