The number of new files received by Turkish foreclosure offices leapt by 62.7% y/y to 8.15mn between January 1 and July 21, Sozcu has reported.
There were 5.008mn foreclosure files logged by the offices in the same period of 2022, meaning the figure increased by 3.14mn.
Reportedly, the total number of files in the foreclosure offices presently stands at a breathtaking 21.8mn.
Main opposition Republican People’s Party (CHP) MP Omer Fethi Gurer was reported as referring to a 226.65% increase in credit card expenditures, adding: "There is a 187.94% increase in credit card expenditures from markets and shopping malls. Citizens consume not only what is in their pockets but also their future income in advance.”
Credit and credit card debts owed to banks have reached Turkish lira (TRY) 2.3 trillion ($85.3bn), Gurer was also quoted as saying, noting that the number of people who have not paid their personal loans and credit card debts was 3.8mn.
Banking Regulation and Supervision Agency (BDDK) data revealed a surge in credit card expenses among Turkish citizens in the period May 12 to July 14. Individual credit card debts held by banks expanded by some 138bn lira to 808bn lira.
Consumer loans hit 1.4 trillion lira, up by 50bn lira.
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