Opposition parties to prepare an economic ‘constitution’


The urgent nature of the economic crisis has led Turkey’s opposition parties to come together to try and solidify the foundations of the economy. These opposition parties –  CHP, IYI Party, SP, DP, Democrat Party, Gelecek Party and DEVA Party –will work to enter the next election with a set of agreed-upon common principles regarding the economy, and all parties will agree to stick to those principles were they to be elected.

The economy is at the top of the agenda for six opposition parties, who are planning to enter the election with the promise of implementing a Strengthened Parliamentary System. The crisis of high cost of living combined with a high exchange rate-high inflation cycle in Turkey has created an opportunity for the parties to strategize in tandem. The opposition parties think that the current presidential system has negative effects on the economy and will work to determine the shared economic principles that will get the economy back on its feet.

According to CHP Deputy Chairman Bulent Kusoglu, the staffs of these six parties want to determine the economic principles that will undergird their planned transition to a ‘Strengthened Parliamentary System’ after the 2023 elections. The alliance will announce the details of the system in December.

Central Bank independence and beyond

The parties’ core principles are expected to include Central Bank independence, financial discipline, the autonomy of regulatory institutions, and the prevention of corruption and the informal economy. These commitments, if implemented, will form the basis of the principles of an ‘economic constitution’ in the future. Representatives of these six opposition parties have already determined plans for a strong parliament, an impartial president, and an independent and impartial judiciary.

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