15.9 C
Frankfurt am Main

90 percent of Turks struggling to make ends meet amid economic crisis: poll

Must read

Nine out of every 10 people in Turkey, which is currently in the middle of an economic crisis as food and fuel prices have more than doubled in the last few months, are struggling to make ends meet, the Sözcü daily reported on Wednesday, citing the results of an IPSOS poll.

In the recently conducted IPSOS poll, participants were asked how their personal financial situation was nowadays.

According to the results of the poll, 37 percent of participants said they’re having a “very hard time” making ends meet, with 30 percent saying they’re having difficulties managing and 23 percent stating they are living on a very tight budget.

Ten percent said their income was sufficient to cover their expenses, Sözcü said, with 7 percent saying they can manage and 3 percent saying they’re leading a comfortable life.

The poll also revealed that Turkey was the country with the most financial worries among its 11 participant countries (Canada, the US, the UK, France, Germany, Spain, Australia, Japan, Poland, Italy and Turkey), with the majority of Turks thinking the economy will worsen in the short term.

While 81 percent of respondents said they think fuel prices will continue to increase in the short term, 75 percent said they are worried that they will have difficulty paying their bills in the next six months.

The results of a survey conducted by İstanbul Economic Research between May 5 and 11 on 1,500 people in 12 provinces also confirm that Turks are struggling to make ends meet amid the economic crisis, Sözcü said.

The poll showed that 61 percent of participants said their income was not sufficient to cover their expenses last month, while 24 percent said they can barely manage.

Commenting on the results of the survey, Turkey Report Director Can Selçuki said it was possible to say that 85 percent of participants are experiencing financial difficulties, considering the rates of those who gave these two answers when asked to what extent their income was sufficient to pay for their expenses.

Over the past several years Turkey has been suffering from a deteriorating economy, with high inflation and unemployment as well as a poor human rights record. President Recep Tayyip Erdoğan is criticized for mishandling the economy, emptying the state’s coffers and establishing one-man rule in the country where dissent is suppressed and opponents are jailed on politically motivated charges.

A staggeringly high cost of living has become the new normal in Turkey, where recent increases in food and utility prices are pushing up inflation, further crippling the purchasing power of citizens.

According to official data, consumer prices accelerated to 73.5 percent at an annual rate in May, up from 69.97 percent in April.

An increasing number of Turks have complained on social media about rising electricity bills and falling into debt. Many have said even basic foods such as vegetables have become a luxury as prices have risen by nearly 400 percent.

Liked it? Take a second to support Turkish Minute on Patreon!
Become a patron at Patreon!
More News
Latest News