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.

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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