Post-election assessment from economist Professor Hayri Kozanoğlu: Will the empty pot topple the government? – Last Minute Economy News

Post-election assessment from economist Professor Hayri Kozanoğlu: Will the empty pot topple the government?  – Last Minute Economy News

March 31 Local elections are over as of Sunday. While AKP’s votes decreased throughout Türkiye, it was seen that it lost in many municipalities. Comments were made that economic indicators affected the election results in Turkey, which has been experiencing an economic crisis for a long time.

economic agenda Republic TVCommenting on , Kozanoğlu explained why the economic crisis, which did not have the expected impact on the 2023 elections, came to the fore this time.


Kozanoglu, “Empty pots were not reflected in the ballot box in the 2023 elections” he said and continued as follows:

“At that time, in order to keep the exchange rate stable in the period leading up to the election, the Central Bank reserves were burned and the dollar was kept below 20. Interest rates were very low. Natural gas prices were fixed, energy increases were postponed, VAT and SCT increases were postponed until after the elections. The demands of EYT members have been fulfilled to a large extent. Thus, people felt the problems in the economy very little. In this respect, the economic crisis was not fully reflected in the May 2023 elections.”


Underlining that interest rates increased after the local elections, Kozanoğlu said, “During the local elections, both the inflation rate increased and the purchasing power decreased. It has also become more difficult to get a loan or use a credit card, as it was when interest rates were low. Last week, consumer loan interest rates increased by 82 reached its level. Thus, people’s economic-based complaints increased. “Not only the economy, but also anti-democratic behavior, the partisan relations of sects and communities playing a role in getting jobs from the public, and the trampling on merit are also important reasons.” said.


Kozanoğlu stated that CHP municipalities stand out with their social municipality practices in the economic crisis environment. “Regulations such as narrowing credit card limits and increasing minimum payment amounts have not been made yet. Despite this, a great reaction was reflected in the ballot box. The social municipality practices of CHP municipalities and the presentation of examples of publicist municipalism also gave a positive message to the people in terms of opposition. 2019The black propaganda against the mayors who won the metropolitan cities in Turkey did not work either. CHP showed success, but this success was a general reaction to the system established by the People’s Alliance. “Those who are in favor of secularism, democracy, a more equitable income distribution, and those who care about women’s rights reacted against the government.” he said.


Kozanoğlu emphasized that Erdoğan made reference to the medium-term program and the 12th Development Plan in his balcony speech. “The message was given that the austerity policy would continue. Because it is expected that there will be inflows into Turkey due to Mehmet Şimşek’s policies and a sharp interest rate increase. Inflation may also decrease relatively, but the impoverishing effect of this program and lowering living standards will continue. Erdogan wants to continue on this path since there are no elections soon. However, the salaries of the labor sector may not increase in July, unlike public employees and retirees. The raise was on the agenda once a year. “A significant part of the society receives minimum wage, once an increase is made, social reaction will increase.” He used the expressions.

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