ٌRich Turks take the share of the poor

The latest World Inequality Report, released by the World Inequality Lab at the Paris School of Economics, found that the richest 10 percent of the Turkish population captures 54.5 percent of the total income while the bottom 50 percent takes a mere 12 percent.

The findings of the Paris-based World Inequality Lab have exposed the increasing income and wealth inequality over years in Turkey.

The report indicated that economic inequalities have increased in the last 15 years and that there is a decrease in income of all population groups due to the economic recession between the years 2018-2021.

Turkey's national wealth has increased more than two times in the last 25 years, but the country has become more unequal in terms of wealth compared to countries at a similar level.

Turkey's bottom 50% poor class possesses 4% of the total national wealth. On the other hand, the 40% middle class owns 29% of the total national wealth, whereas the 10% rich owns 67% of the national wealth.

Turkey’s minimum wage recently rose to 4,253.4 liras from 2,825.9 liras, while purchasing power has been on the decline due to rising inflation and the plummeting of the lira against the dollar.

The poverty threshold in the country for a family of four stands at 10,119.8 liras ($729.3), more than double the increased minimum wage, a report by the Confederation of Public Servants Trade Unions found.