As Erdogan said, the citizen was key
The new economic policy implemented by the government for more than a year has put the citizen in debt.
According to data from the Banking Supervision and Regulation Agency (BDDK), the amount of consumer loans used by citizens from banks increased by 331.5 billion lira since the beginning of the year and reached 1 trillion 105 thousand 895 million lire.
According to data for the third week of January 2022 from the BRSA, the amount in question was 774 million 334 thousand lira a year ago.
The biggest increase in loans in the last year was in consumer loans of TL 232 billion.
Between January 2022 and January 2023, the total amount of used consumer loans from banks increased from 461 billion lira to 693 million lira.
Housing loans increased by 61 billion lira to 361 billion lira, while vehicle loans increased by 39.7 billion lira to 51.7 billion lira.
Retail spending on credit cards also more than doubled, from 205 billion lira to 460 billion lira.
Non-performing consumer loans and credit card receivables from banks increased by 5 billion lira, from 25 billion lira to 30 billion lira in the past year.
NUMBER OF DEBT INCREASE 1.8 MILLION PEOPLE
According to data from Turkish Bank Association Risk Center, as of November 2022, the number of people using personal loans (excluding non-performing loans) increased by 2 million people in the last year to 37.7 million. , while the average loan balance was 39 thousand TL.
In November, 2,226,000 people used credit cards for the first time and 147,000 people used consumer loans for the first time.
BRSA data for the 3rd week of January 2022
Total consumer loan: 774 billion 334 million lira
Housing: 300 billion 62 million lira
Vehicle: 12 thousand 773 million lire
Need: 461 billion 498 million lire
Credit card: 205 million 865 lire
BRSA data for the 3rd week of January 2023
Total consumer loan: 1 trillion 105 billion 895 million lira
Housing: 361 billion 102 million lira
Vehicle: 51 thousand 733 million lire
Need: 693 billion TL 58 million
Credit card: 460 billion 684 million lire
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
