47 Percent of the Country's Families Had to Borrow to Run Their Households

Forty-seven percent of the country's families have had to take loans to meet household expenses. In other words, nearly one out of every two families has had to resort to borrowing to cover daily expenditure — a picture that highlights the depth of the economic pressure on ordinary people in the country.

People turn to loans when the family's income cannot cover household costs. In most cases, these loans are taken to meet essential expenses such as food, medical treatment, children's education and house rent.

This rate of 47 percent is no small number. It means that borrowing is no longer a problem of any particular group; it has become the reality of nearly half of the families in society.

As the tendency to run households on loans grows, the burden of interest and instalments on families also increases. There is also a risk of getting trapped in a cycle of taking one loan to repay another, which weakens a family's financial security further in the long run.

If incomes do not rise along with the prices of daily essentials and the cost of living, there is little scope for this pressure to ease. This statistic of borrowing to run a household is therefore not just a number, but a reflection of ordinary families' struggle to survive.

Those concerned believe that raising people's real income, creating employment and reducing the pressure of essential expenses are the main keys to getting out of this situation. Otherwise, the fear remains that the number of families dependent on loans will rise further.

Which way this rate moves in the coming days will be watched by economists and policymakers. If effective steps are not taken to reduce families' debt burden, this struggle to run a household could become even harder.