Turkey's CHP flags soaring dollarisation and moves for an extraordinary congress

CHP deputy leader and Istanbul MP Özgür Karabat warned that Turkey’s real survival issue is rapid dollarisation. He said that when gold holdings are added to foreign‑currency deposits, the effective dollarisation rate of savings approaches 70 %, posing a severe risk of a currency shock that could destabilise companies, banks and public finances.

Separately, the CHP announced it has gathered enough signatures to demand an extraordinary party congress. Party officials stated that legal deadlines require a new congress before the 25 July 2026 election deadline, and they plan to file a petition with the civil courts to compel the assembly.

Both developments highlight internal challenges for the opposition party as it confronts economic concerns and procedural hurdles ahead of upcoming elections.