Turkey's Erdogan to take oath, name new-look cabinet
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[June 03, 2023]
By Huseyin Hayatsever
ANKARA (Reuters) - Tayyip Erdogan was set to be sworn in as Turkey's
president on Saturday after winning re-election last weekend and will
later name his cabinet, which is expected to signal a change to his
unorthodox economic programme.
Turkey's longest serving leader, Erdogan garnered 52.2% support in the
May 28 runoff vote. His election victory upended the predictions of most
opinion polls and came despite a cost-of-living crisis that was seen to
have dampened his prospects.
His new five-year mandate allows Erdogan to pursue what have been
increasingly authoritarian policies that have polarised the country, a
NATO member, and strengthened its position as a regional military power.
The new parliament convened on Friday and Erdogan will officially start
his new term by taking his oath on Saturday at around 3 p.m. (1200 GMT)
in the general assembly in Ankara.
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That will be followed by a ceremony at the presidential palace attended
by high-level officials from 78 countries and international
organisations, including NATO Secretary-General Jens Stoltenberg,
Venezuelan President Nicolas Maduro, Hungarian Prime Minister Viktor
Orban and Armenian Prime Minister Nikol Pashinyan, according to
state-run Anadolu Agency.
In the evening, Erdogan is set to name ministers. He was almost certain
to include former economy chief Mehmet Simsek in his new cabinet,
Reuters reported earlier this week, which would signal a potential
return to more economic orthodoxy including eventual interest rate
hikes.
Simsek was highly regarded by investors when he served as finance
minister and deputy prime minister between 2009 and 2018. A key role for
him now could mark a departure from years of years of policy that was
underpinned by low interest rates despite high inflation, and heavy
state control of markets.
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![](../images/060323PIX/news_p8.jpg)
Turkish President Tayyip Erdogan greets
his supporters following early exit poll results for the second
round of the presidential election in Istanbul, Turkey May 28, 2023.
Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS
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Erdogan, 69, became prime minister in 2003 after his AK Party won an
election in late 2002 following the worst economic crisis of Turkey
since the 1970s.
In 2014 he became the country's first popularly-elected president
and was elected again in 2018 after securing new executive powers
for the presidency in a 2017 referendum.
The May 14 election and May 28 runoff was pivotal given the
opposition had been confident of ousting Erdogan and reversing many
of his policies, including proposing sharp interest rate hikes to
counter inflation, running at 44% in April.
In his victory speech, Erdogan said inflation, which hit a 24-year
peak of 85% last year before easing, was Turkey's most urgent issue.
Analysts have warned that if the current policies continue, the
economy is headed for turmoil given depleted foreign reserves, an
expanding state-backed protected deposits scheme, and unanchored
inflation expectations.
The lira has undergone a series of crashes in recent years and hit
new all-time lows in the days after the vote.
(Reporting by Huseyin Hayatsever; Editing by Jonathan Spicer and
Frances Kerry)
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