TÜİK releases poverty and living conditions statistics: Turkey is drowning in debt
The Turkish Statistical Institute (TÜİK) has released its poverty and living conditions data. According to the report, the relative poverty rate was 13.9 percent, while the proportion of citizens with installment payments or debts stood at 58.0 percent. Additionally, the proportion of citizens living in rented housing was measured at 27.8 percent.
The income information regarding the 2023 results of the Survey on Income and Living Conditions, which calculates Poverty and Living Conditions Statistics, refers to the previous calendar year, 2022. In income and poverty calculations, household income is converted into equivalized household disposable income by taking into account household size and composition.
INCREASE IN POVERTY RATE
Individuals with income below a certain threshold relative to the general level of society are considered relatively poor. According to the poverty threshold determined by taking 50% of the median equivalized household disposable income, the poverty rate decreased by 0.5 percentage points in 2023 to 13.9%. The poverty rate calculated according to the poverty threshold determined by taking 60% of the median income increased by 0.1 percentage points in the last year to 21.7%.
The persistent poverty rate, calculated using four-year panel data, covers individuals who are poor according to 60% of the median equivalized household disposable income in the last year and also in at least two of the previous three years. Accordingly, according to the 2023 survey results, the persistent poverty rate decreased by 1.7 percentage points compared to the previous year to 12.3%.
INCREASE IN INSTALLMENT PAYMENTS
Compared to last year, the proportion of those with debts or installment payments, excluding housing purchases and housing expenses, decreased by 1.4 percentage points to 58.0%. While these payments did not place a burden on 5.7% of the population, they placed a heavy burden on 14.9%. The proportion of households for which housing costs placed a heavy burden increased by 0.3 percentage points to 17.5%, while the proportion of households for which these costs placed some burden increased by 8.8 percentage points to 66.5%. The proportion of households stating that housing costs did not place a burden was calculated at 15.9%, a decrease of 9.2 percentage points compared to last year.
DECREASE OBSERVED IN THE NUMBER OF HOMEOWNERS
While the proportion of those who own the home they live in decreased by 0.5 percentage points compared to last year to 56.2% in 2023, the proportion of those living in rented housing was 27.8%, those living in company-provided housing was 0.9%, and the proportion of those who do not own their home and do not pay rent was 15.1%.