Citizens borrowed 13.6 billion in 1 week

Minimum Although the salaries, the salaries of officials and workers try to compensate for the drop in inflation, salaries always lag behind the unstoppable rise in prices. Citizens, unable to live on their monthly income, rely on consumer loans and credit cards to meet their needs. Before the banks abandoned the process of finalizing individual loans for the second round of the elections, citizens continued to borrow despite rising interest rates. According to data from the Central Bank, the average annual interest rate on consumer loans increased to 34.30 percent in the week of May 5, and after reaching the maximum in the last 9 months, it remained close to the maximum with a decrease of 0.11 percent in the week of May 12.

DESPITE THE HIGH INTEREST

Although there was a limited increase of TL 2.421 million in the use of consumer loans during the peak week, citizens quickly resorted to consumer loans despite the average interest rate of 34.19 percent in the week of May 12.

Weekly increase in card debts 26 billion TL

According to BRSA data, individual credit card debts of citizens in the week of May 12 increased by 25.92 billion compared to the week of May 5 and reached TL 670.8 million. Citizens’ debt on housing, vehicle and consumer loans increased by TL 24.602 million and reached a total of TL 1.353.28 billion.