The economy is hidden in this data: 32 billion 590 million liras
Pointing out that low-income earners are paying the heavy price of the economic program implemented by the economic administration under the pretext of fighting inflation, CHP's Ateş said, "In the last year, bad credit card debts have increased by 238 percent. Non-performing credit card debts, which were 9 billion 592 million liras in the same period last year, have risen to 32 billion 590 million liras this year."
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Republican People's Party (CHP) Bolu Deputy Türker Ateş pointed out that non-performing individual credit card debts are increasing rapidly.
HE CRITICIZED ŞİMŞEK'S POLICIES
Stating that the high-interest rate policy affects low-income citizens the most, Ateş emphasized that the claim by Minister of Treasury and Finance Mehmet Şimşek that they would not place the burden of the economic program on low-income earners does not align with reality.
Noting that non-performing credit card debts, which were 9 billion 592 million liras in the same period last year, have risen to 32 billion 590 million liras this year, Ateş said, "The bill for the program is very clearly being passed on to the low-income earners."
Ateş stated the following:
The optimistic picture that Mehmet Şimşek paints in every speech is unfortunately not valid for the low-income earner. Non-performing credit card debts, which were 9 billion 592 million liras in the same period last year, have risen to 32 billion 590 million liras this year. Even a 50 percent interest rate alone makes it impossible for low-income earners and wage earners to live humanely.
Since the end of March, when interest rates rose to 50 percent, non-performing credit card receivables have been rising very rapidly. Bad credit card debts, which were 21 billion 411 million liras at the end of March, have approached 33 billion liras in three months. The increase rate of bad credit card debt in just 3 months is 51 percent. The bill for the program is very clearly being passed on to the low-income earners.
The high-interest-based economic program has only one goal. That is to slow down the wheels of the economy to reduce inflation. There is an economic administration that tries to hide what will happen when the wheels slow down. When this scenario materializes, businesses will be driven to bankruptcy and employees to unemployment.
When what they call 'cooling down' in the economy comes to life, the damage will be paid most by those who are already in a debt trap and are forced to buy even their bread with a credit card. All the suggestions that 'the worst is behind us' cannot go beyond words. The difficult days for low-income earners are just beginning."