AKP’s Zeybekci: Imamoğlu’s Arrest on March 19 “Undeniably Harmed the Economy”
Ekrem İmamoğlu
AK Party Deputy Chairman Nihat Zeybekci, who oversees the party’s economic affairs, acknowledged that the arrest of Istanbul Metropolitan Mayor Ekrem Imamoğlu on March 19 had negative repercussions on Turkey’s economy, stating clearly: “To say it caused no harm is simply not possible.”
Zeybekci made the remarks during a televised interview, where he was asked whether Imamoğlu’s detention had any impact on economic confidence and market stability.
“Of course it had an impact. Saying otherwise is out of the question,” Zeybekci said.
“Economic damage is not always immediate—it unfolds over time. An incident today can show its full economic effects over six months, one year, even two years.”
His statement marks one of the first public acknowledgments by a senior AK Party figure that the politically charged arrest had consequences beyond the courtroom, notably affecting investor sentiment, market dynamics, and economic predictability.
Background: Arrest Sparks Market Volatility
Ekrem Imamoğlu’s March 19 arrest, widely condemned by opposition parties and international observers, triggered a wave of economic uncertainty. In the days following the arrest, analysts noted a spike in dollarization, currency volatility, and a dip in investor confidence, prompting concerns about the broader impact of political tensions on Turkey’s economic trajectory.
Zeybekci’s comments align with recent analyses from economists suggesting that political risk remains a significant variable in Turkey’s macroeconomic outlook, especially amid ongoing reforms and external financing needs.
IMPORTANT DISCLOSURE: PA Turkey intends to inform Turkey watchers with diverse views and opinions. Articles in our website may not necessarily represent the view of our editorial board or count as endorsement.
Follow our English language YouTube videos @ REAL TURKEY: https://www.youtube.com/channel/UCKpFJB4GFiNkhmpVZQ_d9Rg
And content at Twitter: @AtillaEng
Facebook: Real Turkey Channel: https://www.facebook.com/realturkeychannel/