CHP warning on bounced checks: If the payment chain breaks, the crisis will spread to the real sector

CHP Deputy Chairman and Istanbul MP Özgür Karabat drew attention to the slowdown in the Turkish economy and the growing problem of bounced checks in the market. In comments shared on his social media account, Karabat stated that high interest rates, weakening domestic demand, and difficulties in accessing financing are increasing the pressure on the real sector.

Karabat recalled that the IMF announced its 2026 growth forecast for Turkey as 4.2 percent in January, and that this expectation was lowered to 3.4 percent in April and 2.9 percent in July. Arguing that this revision shows that the slowdown in the economy is also being observed by international organizations, Karabat stated that the current picture cannot be described as "rebalancing."

Stating that the high-interest rate policy has increased credit costs, Karabat noted that investors are struggling to invest, industrialists are having trouble accessing financing, and tradespeople are struggling to maintain their capital. Expressing that citizens are also trying to survive with credit cards and consumer loans, Karabat said this situation signifies an economic contraction.

ATTENTION DRAWN TO BOUNCED CHECK DATA

Karabat stated that data from the Banks Association of Turkey (TBB) Risk Center also reveals the tightening in the market. Reporting that as of June 2026, the amount ratio of checks presented to banks that bounced reached 3.25 percent, Karabat noted that this is one of the highest levels in recent times.

Evaluating the fact that while the volume ratio of bounced checks remained at the 2.3 percent level, the amount ratio rose to 3.25 percent, Karabat emphasized that the problem is no longer limited to small businesses and that larger-amount checks are also failing to be paid.

According to the data shared by Karabat, the amount of bounced checks, which was 5.5 billion TL in the first 6 months of 2021, rose to 105.4 billion TL in the same period of 2025. Karabat stated that there has been an approximately 29-fold increase over the five-year period, indicating a serious deterioration in cash flow and payment discipline.

According to June 2026 data, while the number of checks presented to banks in the first 6 months of the year rose to 1 million 716 thousand, the number of bounced checks reached 38 thousand 900, the highest level in the last year.

Criticizing the economic management's approach, which relies solely on interest rate tools, Karabat said that Turkey needs structural steps such as predictable law, trustworthy institutions, tax justice, public savings, and education reform. Stating that the public is bearing the heavy burden of the economic picture, Karabat expressed that wages are melting against inflation and rents are straining salaries.