Turkey’s national wealth diminished by $190 billion last year: report

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AFP PHOTO / OZAN KOSE

Turkey’s national wealth diminished by $190 billion last year due to a currency crisis, Credit Suisse, a Swiss investment banking company, said its ninth global wealth report.

According to Euronews, in losing national wealth Turkey ranked second after Brazil, which has lost $380 billion of its accumulation due to economic problems.

The report also indicated that the number of millionaires in Turkey dropped by 16,000 to 79,000, putting the country in fourth place behind Brazil, Australia and Sweden in terms of millionaire loss.

The world’s accumulated wealth is around $317 trillion and the number of global millionaires is close to 42 million.

A total of 17.35 million of them live in the US, while 2.147 million are in France, 2.183 million in Germany and 2.433 million in the UK.

The bank’s report showed if wealth were equally distributed to human beings, each person would have $63,100.

Turkey has been experiencing a currency crisis, with its national currency losing almost 40 percent of its value against the US dollar since the beginning of this year.

The crisis has triggered high inflation and interest rate hikes.

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