TÜRKIYE: TIGHT ELECTION CONTEST STEERS TOWARDS PROBABLE POWER-SHARING SCENE

   Wed, 10 May 2023

The May elections will not immediately change Türkiye’s expansionary economic strategy or foreign policy, but a split result could produce a political stand-off that in turn sparks a balance-of-payments crisis. While the results may be close, there is substantial policy overlap between the two rivals, which means that a radical change in economic and foreign policy direction is improbable. The increasingly likely prospect of a divided government where the presidency and parliament are controlled by opposing alliances, could result in significant policy uncertainty, hindrances, and potential instability.

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