Erdogan starts presidential rule, names son-in-law Turkish finance minister

Lester Mason
July 11, 2018

There is a two-term limit on the office of the president, so he could effectively stay in power until 2028.

Turkish Prime Minister Binali Yildirim will on Monday go down in history as the 27th and final holder of a post that has existed since Mustafa Kemal Ataturk founded modern Turkey, and whose origins date back to the Ottoman Empire.

Erdogan was sworn in under new presidential system at 4.30 p.m. local time.

Erdogan, who has transformed Turkey by allowing Islam to play a greater role in public life and boosting the country's worldwide stature, will take his oath nearly two years after defeating a bloody attempted coup.

Under the new system, Erdogan will not only run the executive branch but also lead his Justice and Development Party in parliament where he is six short of a majority and therefore allied with a nationalist party.

In his message, the King said that "this re-election is a testament to the renewed confidence of the Turkish people" in the president's efforts "to advance, develop and strengthen Turkey's position" internationally. Erdogan has said the powerful executive presidency is vital to driving economic growth and to ensure security after a failed 2016 military coup.

Abolishing the post of prime minister, the president will now form the government, appoint ministers, vice presidents and high-level bureaucrats, issue decrees, prepare the budget and has the power to impose a state of emergency.


President Recep Tayyip Erdogan of Turkey has expressed satisfaction and pride over the strengthening of Moroccan-Turkish bilateral ties.

Berat Albayrak, the husband of Erdogan's elder daughter Esra, was on Monday named by the president as treasury and finance minister as part of a cabinet reshuffle for his new term.

Investors were waiting to see whether cabinet appointees would include individuals seen as market-friendly, and particularly whether Mehmet Simsek, now deputy prime minister, would continue to oversee the economy. But he's also overseen a strong economy and he has built up considerable support across the country. A senior adviser to Erdogan later said that governors would still be appointed for a five-year term.

Monday's announcements had deepened worries about the bank's independence and triggered losses in the lira, which has been hit this year by concerns about Erdogan's drive for greater control over monetary policy. "There is no stopping for us until we bring Turkey - which we saved from plotters, coupists and political and economic hitmen, street gangs and terrorist organisations - to among the top 10 economies in the world", he said. "In other words, Turkey will be an institutionalized autocracy".

Turkey is a member of the Western military alliance, NATO, but it has been at odds with the United States over military strategy in Syria and with the European Union over Ankara's purges of state institutions, armed forces, police and media following the failed coup.

Inflation surged last month above 15 percent, its highest level in more than a decade, despite interest rate hikes of 500 basis points by the central bank since April.

Other reports by Iphone Fresh

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