(Reuters) - Turkey will raise its minimum wage by 21.56% gross and about 16% net in 2021, for a monthly net wage of 2,825 Turkish lire ($376.71), the labor minister said on Monday.

Zehra Zumrut Selcuk made the announcement, broadcast on TV, and said the wage rise was seven percentage points higher than the November inflation rate.

Turkey’s central bank has an inflation forecast of 12.1% for 2020 and 9.4% for 2021.

($1 = 7.4991 liras)