According to the recent statistics released by Turkish Statistical Institute (TurkStat), 68% of the Turkish population has credit debts or instalment payments. A recent research on indebtedness by Interbank Card Center (BKM) states that total payments made by credit and debit cards have increased by 20% in August 2017 in one year.
The "Income and Living Conditions Survey" of TurkStat reveals that 68% of the Turkish population has credit debts or instalment payments except buying a house or basic housing costs, which corresponds to 54 million people.
The recent banking sector statistics of BKM state that the use and number of credit and debit cards have significantly increased during the one-year period from August 2016 to August 2017. The total payments made by credit and debit cards have increased by 20% and become TL 61.6 billion ($17.3 billion). This increase results from the 17% increase in the payments made by credit cards and 52% increase in those made by debit cards.
The total number of credit and debit cards has increased by 9%, reaching 187.1 million in the 80 million populated-country. The number of debit cards has increased by 11% becoming 126.1 million and that of credit cards has increased by 6% becoming 61 million in one year.
The worsening income distribution in Turkey forces the citizens to get indebted, which, in return, results in rising future profits of the capitalist class of Turkey.
