Turkish President Recep Tayyip Erdogan clinched a third term in a reelection over the weekend, overcoming the challenges posed by high inflation and the aftermath of a devastating earthquake.
With over 99% of the votes tallied, Erdogan won with a 52% majority against his rival, Kemal Kilicdaroglu. This victory extends Erdogan’s already two-decade long rule amidst growing authoritarian tendencies. During his victory speeches in Istanbul and Ankara, Erdogan thanked the nation and expressed hopes of living up to their trust for another five years.
He cast off the election divisions, claiming that the only winner is Turkey. Despite his public promise to bridge the divide, he continued to criticize Kilicdaroglu and the imprisoned former co-mastermind of the pro-Kurdish party, associating them with terrorism.
While Erdogan’s government stirred controversy by vetoing Sweden’s NATO membership and buying Russian missile-defense systems, it also helped facilitate a deal that allowed Ukrainian grain shipments, preventing a global food crisis. Erdogan’s third term was welcomed by world leaders like Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy. US President Joe Biden expressed his eagerness to continue cooperation as NATO allies.
However, Erdogan’s government faces criticism for causing rampant inflation and delayed response to a deadly earthquake. Erdogan promises that rebuilding the affected cities and resettling Syrian refugees to Turkish-controlled zones in Syria, with Qatar’s help, are his priorities.
Information for this briefing was found via the Associated Press. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.