The World Bank’s 2024 Poverty, Well-Being and Planet Report, which examines the relationship between global poverty, income inequality and climate change, has revealed striking data. Evaluating the report from Turkey’s perspective, Çiğdem Gizem Okkaoğlu, Secretary General of the Institute of Social Studies, said, “In order for society to have a better future, it is essential to reduce poverty and income inequality with inclusive policies; otherwise, social and economic balances will continue to deteriorate, social unrest will deepen and ‘social madness’ will be inevitable.”
The World Bank's 2024 Poverty, Well-being and Planet Report has been published. The report, which emphasizes that there has been a serious pause in reducing global poverty in the post-pandemic period, revealed that extreme poverty and income inequality are deepening. While the global economy struggles with the economic shocks caused by COVID-19, increasing debt burdens and widening income gaps, efforts to combat poverty have slowed down.
POVERTY IS ALSO ON THE RISE IN TURKEY
According to the data in the report, while 8,5 million people, which constitute 692% of the world's population, live in extreme poverty today, the situation in Turkey is not encouraging either. According to TÜRK-İŞ's September 2024 data, the monthly minimum amount that a family of four in Turkey needs to spend just for food expenses, in other words, the hunger threshold, has increased to 19.830 TL. However, the poverty threshold, in other words, the total income required for other basic needs (rent, transportation, education, health, etc.) along with food, is 64.595 TL. The monthly cost of living for a single worker has increased to 25.706 TL. In the face of these figures, it is stated that while the minimum wage is 17 TL, the rate of employees earning minimum wage is 50%.
SOCIETY 2024 REPORT CONFIRMS DATA
Evaluating the data in question, Çiğdem Gizem Okkaoğlu, Secretary General of the Institute of Social Studies, said, “Of course, it is not correct to attribute social problems entirely to the increase in poverty and income inequality, this would be a manipulative interpretation. However, it would be a difficult determination to falsify to say that many of the problems we observe in our country are economic in origin and that income inequality lies at the root of economic problems.” Okkaoğlu, who also referred to the “Society 2024: Turkey Social Tendencies Survey” prepared by the Institute of Social Studies, said, “According to the report, 10 of the top 2 problems that need to be solved urgently, including those in the first 5, are directly related to the economy. 54,1% of the society responds to the question, ‘What do you think are the two most important problems in Turkey that need to be solved urgently?’ with ‘economy’. 27,9% of the society responds to the same question with ‘inflation, high cost of living, and price hikes.’ “If a fair income distribution had been achieved, or at least if the inequality in income distribution had been decreasing over the years and poverty had been reduced in this way, it could certainly be said that economic despair would not be at its highest level in our country today,” he said.
IS A SOLUTION POSSIBLE?
Çiğdem Gizem Okkaoğlu, Secretary General of the Institute of Social Studies, continued her words by listing her suggestions for solutions to deepening poverty:
“It can be said that the solution suggestions offered by the World Bank on a global scale are also valid for Turkey. However, Turkey needs to develop stable and sustainable policies and take planned actions within the framework of these policies: More inclusive economic policies are needed to reduce income inequality in Turkey. Closing the gap between the rich and the poor, increasing the share of workers in the national income and expanding social assistance to low-income segments are of great importance. Increasing the share of the middle class in the income pie can contribute to increasing social welfare. Making the middle class more economically strong through investments in education, health and infrastructure plays a critical role in achieving social balance.
“SOCIAL INSANITY” IS AT THE DOOR
The increase in poverty and income inequality in Turkey is one of the most brutal examples of this global problem. While increasing poverty leads to social unrest, infrastructure problems and environmental crises that the wealthy cannot escape, the consequences of the concentration of welfare in a narrow segment affect society as a whole. Income inequality emerges as a phenomenon that threatens the quality of life not only of the poor but also of the richest. In order for society to have a better future, it is essential to reduce poverty and income inequality with comprehensive policies; otherwise, social and economic balances will continue to deteriorate, social unrest will deepen and ‘social madness’ will be inevitable.”
