Interest-Debt Trap: Özel Highlights 24-Year Economic Parallel

During the CHP parliamentary group meeting on April 28, 2026, Chairman Özgür Özel delivered a stinging critique of the government’s long-term economic track record, highlighting the interest-debt trap over the years. Özel claimed that the total revenue generated from 24 years of AK Party privatizations—totaling 2.7 trillion TL—is roughly equivalent to the amount the government is projected to pay in interest expenses in 2026 alone.

Interest-Debt Trap: “Selling the Republic’s Heritage”

Özel accused the government of dismantling the Republic’s economic foundations by selling off 89% of the country’s public assets. He listed iconic institutions such as Sümerbank, Tekel, Türk Telekom, Petkim, and Tüpraş, arguing that these sales weakened the state’s productive power and left workers insecure.

The CHP leader used a sharp analogy to describe the situation:

“They sold every institution that makes the Republic what it is and are paying that money to interest this year. There are those who take an inheritance and lose it in a single night of gambling; in the eyes of this nation, the AK Party is no different from that ‘ungrateful heir’ who bankrupted the country.”

Wage Erosion and the 12-Fold Gap with Germany

Addressing the “black order” of the current labor market, Özel highlighted that nearly 55% of Turkish workers now earn the minimum wage or just slightly above it. He provided a stark comparison between the purchasing power of workers in Türkiye and Germany:

• Minimum Wage Ratio: While 9% of Germans earn minimum wage, the figure is over 50% in Türkiye.

• The Meat Index: According to Özel, a German worker can buy ground beef for roughly 350 TL (in equivalent currency), while a Turkish worker pays 950 TL.

• The Purchase Gap: When combined with wage differences, Özel calculated a 12-fold gap in purchasing power between the two nations.

Social Housing and the “Rental” Model

The housing crisis was another focal point of the speech. Özel claimed that the era has arrived where citizens must choose between paying rent and buying food. He asserted that the CHP is the pioneer of the “Rental Social Housing” model in Türkiye, noting that the party recently broke ground on such projects in Çeşme and Menemen.

He criticized the government for attempting to “imitate” the policy, warning citizens to “beware of poor imitations” of CHP’s social policies. Özel promised that under a CHP administration, one in four houses built would be designated for social rental housing.

Agriculture vs. Interest: The 15-Fold Discrepancy

Özel concluded by highlighting what he termed the “government’s preference for usurers over producers.” He noted that in the first three months of 2026, the government paid 876 billion TL in interest, while allocating only 60 billion TL for agricultural support.

“An administration that pays 15 times more to interest-seekers than to farmers is an administration that has turned its back on the people,” Özel stated, vowing to replace this “black order” with a “republican order” that restores the rights of youth, retirees, and workers.

Source. karar