Turkey leads in struggling to make ends meet among OECD countries

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Among the OECD countries, parents in Turkey are experiencing the most difficulty in providing for their families, with over 70% expressing concerns about meeting their basic needs, according to a recent study by the organization. https://www.oecd.org/social/coping-with-the-cost-of-living-crisis.htm

Globally, nine out of 10 families living in OECD countries expressed concern about high living costs and price increases.

For families in Turkey, this has become a pressing concern as they grapple with essential expenses like food, household bills, energy costs, and debts. Nearly 47% of families in Turkey fear that they may not be able to cover these fundamental necessities.

Among all 34 member countries, only 33% of the participants in the survey believe that their government's assistance would be sufficient in case of an economic crisis. Instead, many are turning to their social circles, relying on friends and family for support in overcoming financial challenges.

The study also highlighted the importance of government intervention in combating the rising cost of living. Approximately 73% of the families in Turkey think their government should prioritize addressing this issue.

Following Turkey, Chile and Mexico ranked second and third, respectively, in terms of parents feeling the most financial burden.

Conversely, Denmark, the Netherlands, and Switzerland were noted for having the lowest percentage of families experiencing economic struggles. (VK)