While citizens in Turkey have been struggling with an increasing economic crisis since 2018, the economic growth figures announced by the Turkish Statistical Institute (TURKSTAT) drew attention.
According to TURKSTAT figures, Turkey grew by 4 percent in the first quarter of 2023 compared to the same period of the previous year and by 0.3 percent compared to the previous quarter.
The sectors that are effective in the growth in the economy figures are services 12.4 percent, professional, administrative and support service activities 12 percent, finance and insurance activities 11.2 percent, information and communication activities 8.1 percent, other service activities 7.8 percent, construction 5.1, public administration, education, human health and social service activities increased by 3.6 percent and real estate activities increased by 1.4 percent.
In the field of economy, especially the agriculture sector and industry tended to decrease, while the agricultural sector decreased by 3.8 percent and the industry by 0.7 percent.
HOUSEHOLD CONSUMPTION EXPENDITURES INCREASED 16.2 PERCENT
Seasonally and calendar adjusted GDP chained volume index increased by 0.3 percent compared to the previous quarter.
The calendar adjusted GDP chained volume index increased by 3.8 percent in the first quarter compared to the same quarter of the previous year.
Consumption expenditures of resident households increased by 16.2 percent as a chained volume index in the first quarter of the year compared to the same quarter of the previous year.
The government's final consumption expenditures increased by 5.3 percent, and gross fixed capital formation increased by 4.9 percent.
HUNGER AND POVERTY LINE NUMBERS RISE
In the economic crisis environment, the decreasing purchasing power of the citizens was revealed by the research conducted by Türk-İş.
According to Türk-İş research, the monthly hunger limit of a family of 4 increased to 10,362 TL, while the poverty line reached 33,752 TL in May. The monthly cost of living for a single employee has reached 13 thousand 439 TL.
Although the minimum wage increased to 8 thousand 500 TL with the regulation made at the beginning of the year, the majority of the citizens continue to work under the hunger limit.
The growth figures in the economy by TURKSTAT cast doubt on it. While the growth in the economy does not affect the lives of the citizens, the purchasing power of the citizens continues to decrease.