Increased political power for Turkey’s secularist CHP is a problem for Recep Tayyip Erdoğan, who must now reignite the Turkish economy and stem the rising appeal of rival splinter Islamist parties.
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Turkey’s central bank has raised interest rates in a much-needed reversal from years of unorthodox economic policy.
Under Erdoğan, Turkey has seen periods of growth and stagnation.
Moody’s is threatening to upgrade Turkey’s credit rating, much to the surprise of those who predicting economic disaster after the president was re-elected.
