Income Inequality Report Published: Here’s the Situation in Turkey

It is prepared every year by the Paris-based World Inequality Lab and shows the inequality in income distribution. of the World Inequality Report. The report, which includes this year’s data, has been published. The report, which was published as the “World Inequality Report 2022” and included 2021 data, included tables that clearly reveal income inequality in some countries.

According to the report, which you can find in full at this link, this year, the total wealth of billionaires increased by 75% compared to the previous year. The report revealed that Europe is the ‘most equal’ region in terms of income inequality, while the regions with the deepest inequality are the Middle East and North Africa. It was also noted that global inequality is at the same level today as it was at the height of western imperialism. According to the report, the top 1% have received 38% of all wealth accumulated since the mid-1990s. the bottom 50% received only 2% of the savings.

What about income inequality in Turkey?

According to the published report, income inequality in Turkey, has continued to increase over the last 15 years. The economic slowdown in the last three years has reduced the incomes of all population groups. In Turkey The average annual income of an adult is 85 thousand TL While the average annual earnings for the poorest and richest quintiles were as follows:

• Average annual income of the poorest 50%: 20,260 TL
• Average annual income of the richest 10%: 463.020 TL
• The difference is: almost 23 times

Distribution of all income:

• The richest 10% of your income 54.5% of taking.
• The poorest 50% of your income only 12% is getting.

The report examines the distribution of wealth in Turkey, whose national wealth has doubled in the last 25 years. inequality is deepening says. The distribution of national wealth into slices is as follows:

• The poorest 50%, 4% of national wealth,
• 40% in the middle, 29% of,
• If the richest 10% 67% of holding it in hand.

The wealth held by the poorest 50% less than 8,910 TL on average.

Situation in gender income inequality in Turkey:

According to the report, gender inequality has improved, but it is still quite far from equality. women in Turkey its share in national income is 23.3% was measured. The average in Turkey was above the Middle East and Africa. In the Middle East and Africa regions, the average share of women in national income was 15%.

COVID-19 has upset the balance all over the world:

According to the report, when we open up to the whole world from Turkey, there is a gap between the net wealth of governments and the net wealth of the private and public sectors. Nations get richer, governments get poorer. While the share of wealth in the hands of public institutions is close to zero or negative in rich countries, in these countries all wealth managed by private actors.

This trend has worsened with the COVID-19 crisis for governments that borrow 10-20% of their gross domestic product from the private sector, according to the report. The COVID-19 crisis has deepened inequality between the very rich and the rest of the population.However, in rich countries, it was stated that government intervention prevented the increase in poverty. It was stated that this is not the case in poor countries.