Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
Former Treasury Undersecretary and prominent economist Mahfi Eğilmez calculated that the fair value of the US dollar should be 65 liras based on the Big Mac Index, far above the market exchange rate of 47.50 liras and warned that the holding the exchange rate below its fair value inflates the country's GDP and per capita income figures on paper without making Turks any richer.
The Revenue Administration has announced the top income taxpayers in 2024, with most names once again kept confidential. For the fourth year in a row, Baykar Chair of the Board Selçuk Bayraktar, who is also President Recep Tayyip Erdoğan’s son-in-law, ranked first, paying 2.77 billion lira in income tax.
Bakım, or care, is one of those deceptively soft words, the sugar coating over a complex vitamin pill, a soft towel draped over the hard machinery of an economy. It suggests tenderness and love. What it rarely suggests is exhaustion, lost income, or the quiet arithmetic of inequality.
The government decided not to increase the holiday bonus paid to retirees, despite rising inflation and growing public expectations. Instead, officials began studying alternative support models aimed at low-income pensioners.
Turkey will test the proposed “basic citizenship income” pilot program, first announced by the governing AKP in 2023.
Tax inspections generated an additional 15 billion lira ($360 million) by targeting high earners who had not filed income tax returns.
The Turkish Statistical Institute (TurkStat) has released for the first time socio-economic status data at the provincial and district levels, based on 2023. Covering more than 26 million households, the study highlights sharp inequalities across Turkey, measuring income, education, and occupation.
The Banking Regulation and Supervision Agency's latest data shows that income inequality continues in Turkey.