"Since our society eats their fill with bread, such rulers have been ruling it for 20 years."
An Istanbul court on Wednesday remanded him in custody pending trial, state-owned Anadolu news agency reported. Turkey is widely criticised by rights groups and Western allies for limiting freedom of speech.
Critics blame Turkey's economic ills on Erdogan's unorthodox monetary policies, which he says are aimed at boosting exports, investment and jobs.
Inflation in October climbed to a 24-year high of 85.5%, having started to surge last year as the lira slumped after the central bank began cutting rates as sought by Erdogan.
Erdogan's ruling AK Party spokesperson Omer Celik said Kolivar's remarks constituted hate speech.
