Turkey's Statistical Institute (TÜİK) published the income and living conditions survey results on September 18. Survey results referring to the previous calendar year reveal that the share of top quintile recorded an increase of 0.2 points and reached to 47.4 percent. The share of the bottom quintile was calculated as 6.3 percent.
Another report published by Credit Suisse, on the other hand, revealed that 78 thousand people comprising 1,8 percent of the whole population have half share of total income with an income above 1 million USD.
ONE OF FIFTH OF INCOME IS CAPITAL INCOME
The rate of wage and salaries got the highest rate with 48.9% of total equivalised household disposable income, revealed TÜİK report. The rate of social transfers was calculated as 19.7% and the entrepreneurial incomes as 19.6%.
According to the research, the mean annual equivalised household disposable income increased to 21 thousand TL. The net minimum wage was around 16 thousand TL in 2017. The report also showed that 25.4% of illiterates and 21.7% of literates with no degree were poor in Turkey. The same figure for higher education graduates is 1.5%.
THE SHARE OF HOUSE OWNERSHIP DECREASES
One of the results of the study shows that 59,1% of the whole population resides in their own dwellings. This rate seems to decrease with an increase in urbanisation levels. On the other hand, the quality of dwellings gets worse according to the study. The figures reveal that 40.8% of the population had the heating problem due to isolation, 36.6% had problems like leaking roof, damp walls and floors, rot in window frames and floors. 22.9% of the population suffer from urban pollution due to traffic and industry or other environmental problems.
TWO THIRDS OF THE POPULATION ARE IN DEBT
The percentage of the population having instalments or loans other than the mortgage is calculated as 69.2%. The rate of the population who reported they cannot afford one week's annual holiday away from home was 60.8% and the rate of ones who regarded housing costs as a heavy financial burden was 13.4%, revealed the study.
The severe material deprivation rate was calculated as 28.7%. This percentage of the population noted that they are unable to pay unexpected financial expenses.
THE NUMBER OF TURKISH MILLIONAIRES INCREASED
Another study published by Turkey's Banking Regulation and Supervision Agency (BDKK) revealed that the bank deposits of the millionaires, living both in Turkey and abroad, has escalated to $167,7 billion in total while it was around $141,5 billion at the end of 2017. The data shows that every Turkish millionaire possesses $1 million on average. The number of the millionaires living in Turkey has increased from nearly 127 thousand to around 149 thousand between January and July 2018.
As the Turkish lira has witnessed a record freefall against the US dollar and the Euro in 2018, the rich class has become richer by means of increasing exchange rates, let alone the government-sponsored bailout operations, while the working people pay the price of economic decline.