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Hazelnuts: Erdoğan hangover prevails after election

May 17, 2023 at 12:30 PM , Der AUDITOR
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ORDU. Opinions are divided over the run-off between incumbent Recep Tayyip Erdoğan and his opponent Kemal Kılıçdaroğlu. While some argue that the outcome will be equally disastrous for hazelnuts no matter which candidate wins on 28 May, others emphasise that a lot more is at stake.

Never-ending hangover

Fact is that the Turkish lira tumbled after it emerged that Erdoğan is in pole position with 49.51% of the votes, whereas Kılıçdaroğlu only secured 44.88% on Sunday. Both failed to win a 50% majority, which renders the run-off necessary. The People’s Alliance along with Erdoğan’s AKP party also won a majority in the parliamentary elections, which were held on the same day. This spells bad news for the economy as Erdoğan is set to continue with his unorthodox policy of combating inflation with interest rate cuts and fail

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