Turkey’s soaring reality: poverty, unemployment, and debt...

The Presidential Government System, which went into effect on July 9, 2018, marking the formalization of a regime change, has left devastation in nearly every sector from education to healthcare, from justice to social life. Characterized as a “one-man rule,” the new system has also wreaked havoc on Turkey’s economy. Decisions made and implemented within the Presidential Palace have severely damaged Turkey’s international reputation.

A study conducted by CHP MP Bekir Başevirgen, covering the 2018-2024 period, highlights the collapse of economic indicators. Contrary to promises of “taking off” and slogans like “We are soaring,” the Presidential Government System has only accelerated Turkey’s economic decline.

A NEW SOARING CLAIM EVERY YEAR

President Recep Tayyip Erdoğan declared in 2015, “Thank God, we are soaring”, in 2017, “I have a pledge; I will make Turkey soar”, in 2019, “Europe is envious of Turkey’s rise”, in 2021, “We will make this the year of soaring”, and in 2023, “We will take off, and the Century of Turkey will begin”. Never abandoning his claim that Turkey will soar, Erdoğan most recently reiterated this rhetoric during his party’s 8th Ordinary Congress, stating, “The upcoming period will be a soaring era for our country”.

INFLATION AND COST OF LIVING

However, the soaring that Erdoğan has repeatedly spoken of never materialized. The economic data, public living conditions, and market indicators have clearly contradicted Erdoğan’s statements. The compiled economic indicators are as follows:

• In 2018, the Consumer Price Index (CPI) inflation was 20.30%, but by the end of 2024, it had risen to 44.38%.
• Food inflation, which stood at 25.11% in 2018, increased to 43.58% in 2024.
• In 2018, the exchange rate for 1 US dollar was 4.8 TL, but by 2025, it had increased 7.5 times, reaching 36.5 TL.
• In 2018, the average price of 1 gram of gold was 220 TL. By March 2025, it was being sold for 3,420 TL.
• In February 2018, the minimum cost of living for a family of four was 1,637 TL, while the poverty threshold stood at 5,331 TL. By February 2025, the hunger threshold had risen to 23,324 TL, and the poverty threshold soared to 75,973 TL.

The total debt of Turkish citizens to banks was 889 billion TL in 2018. By 2025, this debt had increased to 4.127 trillion TL.

In 2018, 2.6 million households received social assistance, while by 2024, this number had risen to 3,688,378 households.

Note: This article is translated from the original Turkish version titled Türkiye’nin şahlanış tablosu published in BirGün newspaper on March 6, 2025.