UPDATE - Turkey to raise minimum wage by 21.56% in 2021

UPDATE WITH MORE FIGURES, REMARKS

By Yunus Girgin and Tuba Sahin

ANKARA (AA) - Turkey is raising its minimum wage by 21.56% as of Jan. 1, the country's family, labor and social services minister announced on Monday.

The net minimum wage for single people will be 2,826 Turkish liras ($377) a month, up from 2,324 Turkish liras a month ($310), Zehra Zumrut Selcuk said.

The new gross minimum wage, before deductions such as social security premiums and income taxes, will reach 3,578 liras ($477.3).

The minimum wage for married people with three children is 3,013.7 Turkish liras ($403), Selcuk added.

The rate of increase was much above the country's annual inflation rate, the minister stressed.

Turkey's annual inflation stood at 14% in November while the 12-month average hike in consumer prices was 12.04%.

However, the Confederation of Turkish Trade Unions said the new wage was insufficient.

"It is far from meeting the expectations of the workers," said Nazmi Irgat, the unions' secretary general.