Turkey held presidential elections on Sunday.
With over 90% of the votes counted, President Tayyip Erdogan has slipped below the 50% mark which will force a runoff.
Opposition candidate Kemal Kilicdaroglu says he will reverse his unorthodox and heavy-handed economic policies.
JUST IN – Turkey is likely heading for a run-off election, Erdogan drops below 50%, according to the state news agency. pic.twitter.com/NgV3vBBKuj
— Disclose.tv (@disclosetv) May 14, 2023
Reuters reported on the economic conditions in Turkey.
Erdogan’s support has slipped in the last few years as a series of currency crashes and a deepening cost-of-living crisis were brought on by his policy of slashing interest rates in the face of soaring inflation.
But by other measures of economic well-being the decline began earlier, around 2013, which marked a turnaround after a decade of high growth and prosperity under Erdogan and his Islamic-rooted AK Party.
That was the year that unprecedented nationwide protests against his government prompted a lasting crackdown on civil liberties. At the same time, a global reversal in market liquidity left Turkey and other emerging markets starved for funding.
Türkiye has voted for the country’s next president. Here are the latest results as of 0300 AM:
Recep Tayyip Erdogan: 49.37%Muharrem Ince: 0.44%Kemal Kilicdaroglu: 44.94%Sinan Ogan: 5.25%
For more: https://t.co/3V3Dh3lcW5 pic.twitter.com/6dmdWoYzMU
— TRT World (@trtworld) May 15, 2023
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