For several months up until the nationwide elections in 81 municipalities President Erdogan aggressively pursued an unorthodox policy to sway voters and provide his ruling Justice and Development Party (AKP) an overwhelming majority victory. However much to his dismay his economic tactics fell far short as the opposition parties secured victories in almost half of those municipalities particularly in major cities such as Istanbul, Ankara and Izmir. Notwithstanding Erdogan’s post-election and economic policy remains unchanged and should it continue Turkey’s economy could become unhinged as outlined as follows:
Economy
- Net foreign reserves dropped