April 13, 2019

THE DISCIPLINE OF DEMOCRACY:

What is next for Turkey after the local elections? (Fahrettin Altun, 4/13/19, Al Jazeera)

The People's Alliance - between the Justice and Development Party (AK Party) and the Nationalist Movement Party (MHP) - received over 53 percent of the national vote and maintained its popularity. Meanwhile, opposition candidates made some gains, notably in the capital Ankara. The mayorship in Istanbul is still contested and the Supreme Electoral Council, an independent legal body, is handling challenges as per Turkish law in a transparent fashion.

After Turkey wrapped up the municipal vote, for the first time in many years, it is entering a long election-free period that will last until 2023. In these four-and-a-half years, the Turkish presidency will focus on three main issues: the economy, the crisis in Syria and its defence capabilities.

On the home front, getting the Turkish economy back on track will be the administration's top priority. In recent months, Turkey experienced an unprecedented and potentially devastating economic assault that it managed to survive.

The lesson learned from that episode was that the Turkish government needed to take necessary steps to make the nation's economy more resilient to external shocks. By 2023, Turkey hopes to have strengthened its economy through export-driven growth, investment in technology and job creation.

Last week, Treasury and Finance Minister Berat Albayrak unveiled the administration's plan for structural transformation, which places emphasis on strengthening Turkey's free market economy, implementing tax reforms and promoting a more just distribution of wealth.

Reiterating the country's commitment to fiscal discipline, Albayrak pledged to deliver debt securities worth $4.92bn to capitalise state banks and help private banks to raise their capital levels to address short-term issues. In the long run, the administration plans to introduce a new individual pension system based on income level. The Turkish government will unveil a plan to combat inflation on food prices next month.

Once you secure a revolution you have to deliver on its promises.

Posted by at April 13, 2019 10:44 AM

  

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