Shortly before going to the polls for the second round, citizens are queuing at exchanges in Istanbul’s grand bazaar, while the exchange rate of the Turkish currency registers a new record low, surpassing 20 dollars.
With the polls showing a victory for President Erdogan, investors’ concern that he will continue his unorthodox practices is evident.
Enver Erkan, economist at DINAMIK INVESTMENT, says: “Apart from the possible outcome of the elections, more investors are preparing for more blows to the lira in the future, because both economic policies that the People’s Alliance, Mr. Erdogan, or the National Alliance of Mr. Kilindaroglu will apply many challenges to the transformation of the economy.”
On the other hand, Kemal Kilindaroglu is trying to attract the citizens who are experiencing the financial crisis by offering debt relief to the owners of loans and credit cards. As he stated: “Of the credit card debts, only the capital will be paid and that in 36 monthly installments. All interest will be written off.”
However, in his latest speeches, Recep Tayyip Erdogan avoids the issue of the economy and promotes faith in God, even taking advantage of Friday prayer time for his election campaign. The Turkish president said: “I believe in our nation, I believe in the faithful, may my Lord grant us to see many conquests. May he allow us to take a step towards these conquests from now on.”
Then, in front of a crowd of his followers, he asked for mass participation in the elections, saying: “And on Sunday with a big bang you will blow up the polls!”.
Taking advantage of his opponent’s statements that he will expel all refugees from the country, if elected, the Turkish president announces that he will build homes in Syria with the help of Qatar for all refugees who will return there.
Erdogan and Kilicdaroglu have engaged in a relentless war of impressions, just a few hours from the polls, as the impressions that will be created in that short time will also be those that will be imprinted on the voters in front of the ballot box.
So Kilicdaroglu played his last cards with money that doesn’t exist.
It promised to clear the accumulated interest from the credit cards.
A while ago, the digital media watchdog announced that it is banning mobile operators from promoting Kemal Kilicdaroglu’s campaign SMS messages. Kilicdaroglu had earlier sent the message to delete the debts from the credit cards by SMS.
“Don’t listen to the Cassandras of the crisis” insists Erdogan, announcing that he will continue the same economic policy.
But at the same time queues were forming at the exchanges by worried citizens, seeing their money losing value.
The economy – the next day’s stake – has been little heard in the two weeks since the first round.
On the contrary, a strong nationalist speech was heard. As the Turkish Republic turns one hundred years old, the secular principles that founded it may no longer be fashionable—but nationalism is.
Thus, Erdoğan exhausted today with constant references to conquests, which he equated with the Holocaust, the anniversary of which is the day after the election.
Source: ERT
