Post-election Turkey returns to economic orthodoxy Evaluation Note / Güven Sak

President Recep Tayyip Erdogan is eyeing economic revival by turning the country back toward conventional policies and partnership with the West.

In a nutshell

• Reelected President Erdogan seeks to lower inflation, restore investor trust
• He will likely realign closer to the West in both economic and foreign policies
• It is unclear what he hopes to achieve with a new Turkish constitution

Turkish President Recep Tayyip Erdogan, reelected in May 2023 to a third five-year term, has decided to adopt more conventional economic policies to reduce inflation and right the suffering economy in the Middle Eastern nation of 85 million people. He has the political capital to sustain the shakeup. Not only did Mr. Erdogan win with 52 percent of the vote, but the People’s Alliance — a coalition led by his Justice and Development Party (AKP) — also won a parliamentary majority.

You may read evaluation note from here.

This note was published in GIS on February 2024.