High inflation in Türkiye fuels soaring credit card debt

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High inflation in Türkiye fuels soaring credit card debt

STORY: High inflation in Türkiye fuels soaring credit card debt SHOOTING TIME: Nov. 22, 2023 DATELINE: Nov. 23, 2023 LENGTH: 0:02:18 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of people on the street and shopping in Türkiye 2. SOUNDBITE 1 (Turkish): BASAR CETIN, 42-year-old chiropractor 3. SOUNDBITE 2 (Turkish): EMIRCAN SIMSEK, 24-year-old waiter STORYLINE: Türkiye's runaway inflation is ramping up credit card spending by consumers who find themselves faced with increased legal proceedings due to card default. Credit card debts soared by 119 percent to 991 billion Turkish liras (34.7 billion U.S. dollars) in the first ten months of 2023, according to banking regulatory watchdog. SOUNDBITE 1 (Turkish): BASAR CETIN, 42-year-old chiropractor "I use credit cards for daily spending. Credit cards are practical tools but if you don't use them correctly, if you don't pay the full balance on a monthly basis, they become a burden. I also was affected by that, but I managed to pay off all of my debt. A

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