Income of rich dips, spending by poor rises

Published 25.04.2016 00:15
Updated 25.04.2016 00:16

Government policies on employment, investment and production have born fruit, with the poor having the largest share in Turkey's economic development.

Development Minister Cevdet Yılmaz said the share of total income by the wealthiest 20 percent of society has decreased, while the share for other segments has increased. Over the past 13 years, the number with a daily income of less than $4.30 has dropped from 20 million to 1.25 million.

This means the income level of nearly 18 million people has improved. Yılmaz added: "The wealthiest segment has not grown richer. As poverty and income inequality decline rapidly, the welfare level is rising in all segments of society. Household income soared by 12 percent in real terms two years ago. It increased by 18 percent for the poorest 25 percent."

Share on Facebook Share on Twitter