Turkey's richest 10 percent takes more than half of national income

The latest World Inequality Report, released by the World Inequality Lab at the Paris School of Economics, found that the richest 10 percent of the Turkish population captures 54.5 percent of the total income while the bottom 50 percent takes a mere 12 percent.

Duvar English 

The findings of the Paris-based World Inequality Lab have exposed the increasing income and wealth inequality over years in Turkey. According to its World Inequality Report 2022, the richest 10% earn 23 times more income than the poor bottom 50% in Turkey. The report said that the top 10% earn 54.5% of the total income in the country.

It indicated that economic inequalities have increased in the last 15 years and that there is a decrease in income of all population groups due to the economic recession between the years 2018-2021.

Turkey's national wealth has increased more than two times in the last 25 years, but the country has become more unequal in terms of wealth compared to countries at a similar level.

Turkey's bottom 50% poor class possesses 4% of the total national wealth. On the other hand, the 40% middle class owns 29% of the total national wealth, whereas the 10% rich owns 67% of the national wealth.

The report also gives figures with regards to global income and wealth inequality.

The wealthiest 10% of the global population takes up 52% of the global income, whereas the poorest half earns 8%, it said.

These averages mask wide disparities both between and within countries.

The Middle East North Africa (MENA) is the most unequal region in the world, whereas Europe has the lowest inequality levels, the findings revealed.