The economic crisis is deepening in Turkey and perhaps the most dramatic sign of it is the increase of businesses shut down, at least 38 a day.

According to Birgün newspaper reports, businesses going bankrupt are increasing at a dangerous speed since the beginning of the year.

According to the report, 2,417 companies were closed in January, while 682 in February, 780 in March, 623 in April, 652 in May and 752 in June.

All in all, in the first six months at least 5,906 companies have been shut.

According to official statistics, from January 2017 until June 2018, some 20,607 businesses have closed down.

The official data shows that at least 38 companies are closed each day.

Turkey Chambers and Stock Exchanges Association says that 14,701 workplaces have been affected by the country's bad economy performance in 2017 alone.

Banks started to shrink

Banks are also in danger of closing down due to the collapse of the Turkish lira and have run out of reserves. Hundreds of branches have already been closed, with consequent loss of jobs.

In just 18 months, some 458 branches have been closed.

In 2017, the number of closed branches was 325, while in the first six months of this year some 133 branches have already been shut down.