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.
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.