06.01.2025 15:30
Recently, a sharp decline in card spending has been observed. Economic uncertainties and rising living costs are leading citizens to be more cautious with their spending. The growth rate of card spending has fallen below 60% for the first time since 2021.
According to TCMB data, the growth rate of card spending has fallen below 60% for the first time since 2021. According to the data from the Central Bank of the Republic of Turkey (TCMB), as of the week of December 27, the annual increase in the four-week average of card spending, excluding individual retirement and tax payments, was 59.6%.
Thus, the growth in card spending has fallen below 60% for the first time since 2021. Card spending growth peaked at 154% in 2023. In 2024, when a tight monetary policy is in effect, the growth in card spending was also above 131%.