April 12, 2023
1 min read

Erdogan launches campaign to retain power

After two decades of rule, Erdogan seeks another term of presidency in the elections scheduled on May 14…reports Asian Lite News

Turkish President Recep Tayyip Erdogan has launched his reelection campaign, with pledges to slash soaring inflation to single digits and boost economic growth.

“We will reduce the inflation to single digits again, and definitely, we will save our country from this problem,” Erdogan told his supporters at the election campaign ceremony in the capital of Ankara, Xinhua news agency reported.

When elaborating on his party’s election manifesto, Erdogan said the ruling Justice and Development Party’s (AKP) aimed to achieve annual economic growth of 5.5 per cent between 2024 and 2028, raising gross domestic product to $1.5 trillion by the end of 2028.

“In the coming period, with an annual growth rate of 5.5 per cent, we will increase our national income to $1.5 trillion, and then our main target is $2 trillion,” he said.

After two decades of rule, Erdogan seeks another term of presidency in the elections scheduled on May 14, while the ailing economy with elevated inflation and weak currency becomes one of his biggest challenges.

Turkey’s annual inflation had risen for 17 months to hit 85.5 per cent last October, bringing about a sharp decline in Turkish households’ purchasing power. The rate eased to 50.5 per cent in March.

Turkey Erdogan

In response, Erdogan promised to improve the welfare of employees, civil servants and retirees by “always increasing their wages above inflation”.

Erdogan also offers further financial assistance for the households to help them get a steady income.

“We will establish a Family and Youth Bank, funded by our natural gas and oil income to provide a financial contribution to the youth, to encourage them to start their families, to help their education, employment, and childcare,” he said.

His government will focus on investment, production, and exports to boost growth, aiming to reach the targeted foreign trade volume of 1 trillion dollars, Erdogan said.

ALSO READ: Turkey commissions its largest warship

Previous Story

Clashes erupt in Yemen despite talks

Next Story

Biden begins Ireland trip

Latest from -Top News

Hamas Reiterates Peace Effort After U.S. Jab

Hamas Reaffirms Commitment to Ceasefire Talks After U.S. Criticism…reports Asian Lite News Hamas on Friday reiterated its commitment to the ongoing ceasefire negotiations, responding to remarks by U.S. Special Envoy to the

No smoking gun in Epstein files: Trump briefed

Attorney General Pam Bondi briefed Trump and Deputy Attorney General Todd Blanche at the White House in May….reports Asian Lite News US President Donald Trump was informed earlier this year that his

Israel, US recall teams from Gaza truce talks

Steve Witkoff said mediators had made a great effort but “Hamas does not appear to be coordinated or acting in good faith”…reports Asian Lite News Israel and the United States recalled their

Trump presses Fed chief to cut rates

Fed chair pushes back on Trump criticism of renovation costs as president presses central bank to cut interest rates…reports Asian Lite News Donald Trump sparred with the Federal Reserve chair, Jerome Powell,

Dubai turns malls Into fitness zones

Dubai’s Mallathon reimagines shopping centres as fitness zones, encouraging residents of all ages to walk, run, and connect—fostering healthier habits in air-conditioned comfort….reports Asian Lite News In a bold move to blend
Go toTop

Don't Miss

Emirates NBD announces 5th edition of annual Unity Run

Community run to celebrate diversity and inclusion of people of

Iraq,Turkey Seek Solutions for Water Share Amid Climate Change Impact

Fidan said that the volume of trade between Iraq and