Reports prepared on inequalities in income and wealth of countries around the world revealed the deep gap in income inequality in Turkey. According to the data of both international organizations and Turkish Statistical Institute (TURKSTAT), inequality in income distribution has been growing exponentially in the last 15 years in Turkey. In our country, where 10 percent of the population owns two-thirds of the country's wealth, approximately 42 millions of the population is very poor, while 35 millions are considered to be poor. When these figures are added together, it turns out that 77 millions of the country's population of 84 millions are poor. Thus, Turkey has become one of the countries where income inequality is experienced the most, such as Mexico, India and Brazil.
THE FLUCTUATION IN THE CURRENCY HAS MADE THE POOR POORER
According to the 2022 data of the World Inequality Report, the top 10 percent of annual income in Turkey earns 23 times more than the bottom 50 percent. The years in which this difference increased the most correspond to the years between 2018-2021, that is, the years when the exchange rate increases in our country caught the upward trend. These fluctuations, on the other hand, made the poor poorer and the rich richer, and found their place in the reports.
10 PERCENT OF POPULATION DOMINATES 67 PERCENT OF WEALTH
Apart from income inequality, a similar picture emerges in wealth inequality. There is also a deep inequality in net household wealth, that is, the sum of financial and non-financial assets owned by individuals. In the report, it was noted that Turkey's wealth has grown in the last 25 years, but the wealth brought by this growth has gone to a certain segment. Accordingly, the bottom 50 percent owns 4 percent of the wealth, while the middle 40 percent owns 29 percent of the wealth. The 10 percent of the upper crust dominates 67 percent of the household's wealth.
ACCORDING TO TURKSTAT, INCOME INEQUALITY RISE TO THE WORST LEVEL IN 11 YEARS
This deep inequality in income justice also seen in the figures of TURKSTAT. The Gini coefficient (measurement of income inequality in the country) was estimated as 0,410 with an increase of 0,015 points compared to the previous year, in the results of the Income and Living Conditions Survey published by TURKSTAT in the previous months. In the calculation based on 2019, it was noted that income inequality rose to the worst level in 11 years.