Recep Tayyip Erdogan: 5 ways he has shaped Turkey

Turkish Prime Minister Recep Tayyip Erdogan was swept into office for a third term Sunday when his party won 50 percent of the vote in parliamentary elections.

By , Staff writer

Economic progress

Under Erdogan, Turkey’s economic output per capita has tripled and the country has made a strong bid for joining the European Union. His pro-business agenda brought Turkey through the global financial crisis unscathed. In 2010, it had one of the world’s top growth rates.

Inflation is at a historic low as are interest rates, and Turkey’s low budget deficit puts many EU states to shame. It is the sixteenth-largest economy in the world, and aims to be in the top 10 by 2023.

But Turkey still faces some economic challenges, including obtaining a credit rating that will encourage investment, Bloomberg reports.

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