In Turkey, early presidential and parliamentary elections are scheduled for 24 June. The full implementation of the constitutional changes confirmed in a 2017 referendum will lead to a further concentration of power in the presidential office. However, opposition parties have also reacted to the changes in the electoral system and formed new alliances. These might pose surprising challenges to President Erdoğan and the ruling AKP.

„In case of an electoral defeat for President Erdoğan, political stability in Turkey would be severely restricted at first.”

In parallel, the exchange rate of the Turkish lira to the euro dropped to a historic low of about 5.73 in late May. The upcoming elections will decide whether the Central Bank can regain its credibility or whether governance of the Turkish economy will increasingly be linked with political aims instead.

What possible political steps following the polls would be of particular relevance for foreign corporations’ business activities in Turkey? How would President Erdoğan react to an opposition victory in the elections? How significant is the risk of street protests in Turkish cities? What is the role of the military in connection with the vote?

Recommendations for Corporations

  • With our Executive Brief, evaluate the impact of the elections on your business activities in Turkey
  • Use the intuitive X-ASSIST Risk Map to gain an overview of the security situation
  • Set up a Favourite in the section X-ASSIST Global Events and receive automated alert e-mails on current security incidents.
  • Register your travellers, expats and sites with the X-ASSIST Travel Monitor to ensure a 24/7 monitoring in real time.

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Photo credit: Mstyslav Chernov | License: Creative Commons