ISTANBUL: Turkish President Recep Tayyip Erdogan on Thursday stated he would run in subsequent yr’s presidential vote and brushed apart rumors of a snap ballot within the economically-battered country. It used to be the primary time that the strongman, who has been in energy since 2003, formally introduced his widely-expected candidacy.

“Let me say it right here. Tayyip Erdogan is the candidate of the Other people’s Alliance”, Erdogan informed a birthday party rally within the western town of Izmir, relating to an alliance between his ruling conservative AKP birthday party and the right-wing MHP birthday party. The opposition CHP birthday party, the second one biggest in parliament, has now not but fielded a candidate and Erdogan tossed a problem to its chief Kemal Kilicdaroglu. “Claim both your candidate or your candidacy,” Erdogan stated. Erdogan stated the election can be hung on time, on June 24 subsequent yr.

There were rumors of an early election amid Turkey’s financial woes brought on by way of the weakening lira and 73.5 p.c inflation – the absolute best degree since 1998. Critics have blamed Erdogan’s unorthodox financial coverage of pushing for decrease rates of interest to battle value rises for the commercial mess. Opposite to standard financial principle, Erdogan is satisfied that prime rates of interest gas inflation slightly than rein it in. On Monday he stated, “this govt won’t hike rates of interest.” – AFP