People walk past a store in Ankara, Türkiye, on Dec. 18, 2023. (Photo by Mustafa Kaya/Xinhua)
by Burak Akinci
ANKARA, Dec. 20 (Xinhua) -- As the New Year is approaching, the already pared-down holiday shopping list is still a burden for many Turks.
"I am planning to buy gifts for my closest ones only, but it's very difficult with these prices, everything is expensive," Serpil Bahar, a 66-year-old retired nurse, told Xinhua in the capital Ankara's downtown Kizilay after buying some lottery tickets from a street vendor.
For Turks, New Year's Eve is not only a traditional time when families roast chestnuts and play bingo while watching the entertaining line-up, but also the time when the big lottery is to be drawn. Even those who don't play the lottery usually tend to have a go at this special time. This year the jackpot is an eye-watering 400 million Turkish lira (13.8 million U.S. dollars).
The sum is especially alluring against the lackluster economy. Traditionally, the Kizilay district is a preferred shopping place for inflation-squeezed low and middle-income consumers hunting for bargains. However, this New Year season the mood is blue.
"People cannot make ends meet, they cannot shop as they did before. Our wallets have gotten thinner," said Bahar.
Customers have been managing household budgets more tightly because of runaway inflation and a weakening currency.
Annual inflation currently stands at a staggering 62 percent. It is expected to peak at around 75 percent in mid-2024 before gradually decelerating.
In the face of a high cost of living, some people have simply called it quits.
"This year I won't be able to buy anything for the New Year, and we won't be celebrating as I cannot buy any gifts for my family members," another retiree Oya Sen said to Xinhua in Kizilay.
"It is not possible to buy presents anymore, we can only afford food," this former teacher complained.
Explaining the decline of the purchasing power, Sen noted that when she retired six years ago, her monthly allowance had been two and a half times in value than the minimum wage of the time.
"Today I receive about the same as the minimum wage," which is 11,400 Turkish lira (about 391.9 U.S. dollars), she added.
The minimum wage is a hot topic in Türkiye as millions of workers depend on it every month. The government is currently negotiating a rise for 2024 with labor unions. Pensions are also due to rise.
However many consumers say that a planned rise in minimum wage will only offer short-term relief for cash-strapped households. A survey in November said a majority of Turks believe the economy will get worse in 2024.
The survey, published by the Ankara-based SAROS Political and Social Research, showed that 57.5 percent of respondents think the Turkish economy will perform worse next year, while only 23.7 percent believe it will improve. ■
People walk past a store in Ankara, Türkiye, on Dec. 18, 2023. (Photo by Mustafa Kaya/Xinhua)
A woman walks past a store in Ankara, Türkiye, on Dec. 18, 2023. (Photo by Mustafa Kaya/Xinhua)
A woman leaves a store in Ankara, Türkiye, on Dec. 18, 2023. (Photo by Mustafa Kaya/Xinhua)
A woman stands in front of the window of a store in Ankara, Türkiye, on Dec. 18, 2023. (Photo by Mustafa Kaya/Xinhua)
