Economic Situation affects Social Cohesion

Through the HUMAN DEVELOPMENT MONITOR (“IGM”) survey conducted in January 2022, INGEV TAM draws attention to several crucial points regarding the economic trajectory in Turkey and its effects on social cohesion.

In the January 2022 survey period, the proportion of those who are at the lowest levels of “happiness in life” increased to 32% from the average value of 24% between 2019 and 2021.

The rate of those who say “I can subsist comfortably” decreased to 15% from 21.7%, the average rate for 2019-2021. Those who say “I believe my economic situation will be better in the coming years” are in the minority (30%) among the population.

Nearly half of the society states that they have an outstanding loan (45%). Consumer loans make up 71% of these loans.

According to the research, economic status has a strong connection with social cohesion indicators such as perceptions of social tension and lifestyle barriers. For example, 46% of those who say “I subsist comfortably” state that their “opinions are represented in politics.” On the other hand, this rate is only 12% among those who “can’t subsist at all.” Moreover, only 11% of those who “can subsist comfortably” state that they have faced obstacles to the lifestyle they want, against 38% of those who “can’t subsist at all.”

Click also for the review by Professor Ege Yazgan: https://bit.ly/3j8GdNI

* Director, Center for Financial Studies (CEFIS) at Istanbul Bilgi University

Comments are closed.