Economy

Amir attends inauguration ceremony of Turkish President

Amir attends inauguration ceremony of Turkish President”

Following the approval of constitutional changes in an April 2017 referendum allowing the president to retain his/her party membership, that May Erdogan was restored as AK Party chairman by a vote at its third Extraordinary Congress.

Since a failed coup attempt two years ago he's fired 125,000 workers, the latest 18,000 at the weekend, and jailed 160,000 people including opponents. Erdogan's supporters see the changes as a just reward for a leader who has put Islamic values at the core of public life, championed the pious working classes and overseen years of strong economic growth.

There are 16 ministers in Erdogan's streamlined new cabinet, which Erdogan has said will be more efficient and act faster.

Its commentator Asli Aydintasbas wrote: "I don't think it would be an exaggeration to say that we entered a "second republic" era", after the republic set up by Turkey's secular founder Mustafa Kemal Ataturk. Erdogan won an absolute majority in the presidential election with 52.5% of the vote, according to Turkey's Supreme Election Council (YSK).

The lira stood at 4.8270 to the dollar at 1553 GMT, weakening more than 2.5 percent from Tuesday's close of 4.7062.

"Based on the observation of facts, we conclude that all Turkish governments led or supervised by Erdogan in the past several years have been informed to one overarching goal: growth at all costs".

First Lady Emine Erdogan is expected to accompany her husband during the visit to Brussels.

The president, under the new rules, will not be able to issue decrees on subjects already clearly regulated by law.

It has also emerged that Mehmet Simsek, a former banker at Merrill Lynch who acted as deputy prime minister in Turkey's previous government, will not hold a position in the new cabinet.

"Turkey is entering a new era with the presidential oath ceremony on Monday", Erdogan told his ruling AK Party at the weekend.

The Sudanese President Omer al-Bashir on Monday attended the inauguration ceremony of Turkish President Recep Tayyip Erdogan in Ankara.

Before Erdogan took oath for a new term in office, the government removed a clause that had stated the central bank governor was appointed by cabinet decision for five years, and could be re-appointed.

And the economy ministry will be merged with the customs and trade ministry to form a new heavyweight trade ministry. Erdoĝan has repeatedly clashed with strategic allies such as the United States and the European Union in recent years over the war in Syria, Turkey's accession to the EU, human rights abuses by Ankara, Europe's failure to support Turkey during the coup attempt, and rising Islamophobia in Europe.

Erdogan said on Saturday that he would tackle "the structural economic problems" of high interest rates and inflation and a wide current account deficit.



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