İmamoğlu reveals those sacrificed to high interest rates: Turkey is being dragged toward an abyss

Making statements on his social media account regarding the country's political and economic agenda, Ekrem İmamoğlu this time drew attention to high interest rates.

İmamoğlu used the following expressions in his post:

"Turkey is rapidly being dragged toward an abyss. The economic crisis that our country has been suffering for years continues to virtually suffocate our nation. Especially small and medium-sized enterprises, which form the capillaries of our economy, are now struggling to survive.

An economy based on high interest rates is rapidly driving SMEs to bankruptcy. According to data from the Union of Chambers and Commodity Exchanges of Turkey, the number of companies that closed in May is 5.9 percent higher than last year!

The number of newly opened companies is 13 percent lower than last year! In other words, more companies are going bankrupt in our country, and fewer companies are being opened. SMEs cannot procure goods, cannot make sales, and if they do, they cannot collect their payments, eventually going bankrupt; the backbone of our economy is being broken! Yet, our SMEs perform a great duty for our country by accounting for 55 percent of our total exports and 72 percent of total employment today.

Because of those who calculate 'we will raise interest rates and keep hot money' while setting up political traps, SMEs are being sacrificed to high interest rates. However, if SMEs were supported with proper resource management and planning, look at what would happen in our country. With support directed toward technology investments, digitalization, and opening up to global markets, SMEs could be the carriers of high-sustainability growth.

If our SMEs are integrated with large industrial companies, both the productivity problem and the innovation problem will be overcome. That is when the country's economy will gain resilience. Employment, jobs, and bread will not be concentrated in certain regions but will spread across the entire country.

This mentality, which only ignores our SMEs and finances political traps with high interest rates, has no remedy to stop the rising wave of bankruptcies. We are ready! A Turkey that works, produces, earns, and shares fairly will walk into the future with us!"

Turkey is rapidly being dragged toward an abyss. The economic crisis that our country has been suffering for years continues to virtually suffocate our nation.

Especially small and medium-sized enterprises, which form the capillaries of our economy, are now struggling to survive. An economy based on high interest rates…

— Presidential Candidacy Office (@CBAdayOfisi) July 2, 2025

News Source: 12punto