By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > News > Turkish voters head to the polls in crunch time for Erdoğan
News

Turkish voters head to the polls in crunch time for Erdoğan

News Room
Last updated: 2023/05/28 at 3:56 AM
By News Room
Share
4 Min Read
SHARE

Turkish voters are heading to the polls for the second time in a fortnight on Sunday with Recep Tayyip Erdoğan on course to extend his rule into a third decade.

Erdoğan defied expectations in the first round of the presidential contest on May 14, beating Kemal Kılıçdaroğlu and coming just short of the majority needed to score an outright victory despite a cost of living crisis that has weighed on his popularity.

In a pair of surveys released this week, the 69-year old president notched up a wide lead against Kılıçdaroğlu, who is representing a six-party opposition coalition.

Sunday’s vote has been billed by both Erdoğan and Kılıçdaroğlu as a referendum on Turkey’s future. Kılıçdaroğlu has vowed to revive the economy by reversing many of Erdoğan’s policies, while also bringing the country back to a parliamentary democracy from the executive presidency system that was put in place after a 2017 referendum.

Erdoğan managed to maintain support from his base of pious, conservative voters across the country’s Anatolian heartland in the first round of the contest by heavily emphasising family values, the battle against terrorism and his successes in giving Turkey a bigger role on the world stage since he became leader in 2003.

The president’s parliamentary bloc, a coalition that includes his Justice and Development party and the Nationalist Movement party, also exceeded expectations, holding on to its majority in the legislative branch.

Kılıçdaroğlu, who initially ran a campaign that promised “spring will come” after two decades with Erdoğan at the helm, has switched to a more forceful, nationalist tone. The 74-year old has, for example, promised to expel millions of immigrants, seeking to harness the frustration of many Turks over the more than 3mn Syrian refugees who have come to the country in recent years.

Still, Kılıçdaroğlu was dealt a blow when Sinan Oğan, the nationalist powerbroker who came in third in the first round of elections, recently threw his support behind Erdoğan, calling on his voters to back the incumbent.

International election observers said the first round of elections were broadly free, but they also noted that the campaigns have been far from fair. Erdoğan leaned heavily on state resources, providing giveaways such as free gas and 10GB of internet for students. He also boosted pay for public sector workers and increased the minimum wage.

The country’s government-affiliated media has provided wall-to-wall coverage of a string of Erdoğan events, including the opening of a Black Sea gas processing facility and the inauguration of a warship.

If Erdoğan does manage to secure a victory, giving him another five-year term as president, the focus is expected to shift rapidly to the country’s $900bn economy.

This week the lira hit a record low, breaching 20 against the US dollar, as investors fretted over Erdoğan’s unconventional economic policies, which have included sharp rate cuts despite acute inflation.

A fall in Turkey’s foreign currency reserves, which has accelerated in recent weeks, has amplified the sense of worry among both international and local analysts.

Erdoğan said this week that the country’s economy, financial system and banks remain “sound”, adding that unidentified Gulf states had provided funding to relieve the pressures.

Read the full article here

News Room May 28, 2023 May 28, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Europe’s rocky relations with Donald Trump

Gideon talks to Jens Stoltenberg, Nato's former secretary-general, about Ukraine and Europe's…

Why One Income No Longer Pays For The American Dream

Watch full video on YouTube

Crypto founder Do Kwon sentenced to 15 years in prison

Stay informed with free updatesSimply sign up to the Cryptocurrencies myFT Digest…

Peter Thiel just cashed out of Nvidia. 💸

Watch full video on YouTube

Corbus Pharmaceuticals Holdings, Inc. (CRBP) Discusses Phase 1a Single-Ascending and Multiple-Ascending Dose Data – Slideshow (NASDAQ:CRBP) 2025-12-11

This article was written byFollowSeeking Alpha's transcripts team is responsible for the…

- Advertisement -
Ad imageAd image

You Might Also Like

News

Europe’s rocky relations with Donald Trump

By News Room
News

Crypto founder Do Kwon sentenced to 15 years in prison

By News Room
News

Corbus Pharmaceuticals Holdings, Inc. (CRBP) Discusses Phase 1a Single-Ascending and Multiple-Ascending Dose Data – Slideshow (NASDAQ:CRBP) 2025-12-11

By News Room
News

Disney to invest $1bn into OpenAI

By News Room
News

Freedom for Venezuela coming ‘soon’, says opposition leader

By News Room
News

Netflix or Paramount? Hollywood shudders over Warner Bros Discovery sale

By News Room
News

Sandisk Corporation (SNDK) Presents at Barclays 23rd Annual Global Technology Conference Transcript

By News Room
News

Trump’s immigration data dragnet

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?