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Adam Tooze: Why in Turkey It’s Not the Economy, Stupid

Erdogan’s monetary policy is a disaster, but Turks keep voting for him.

By , a deputy editor at Foreign Policy.
People look from their windows as Turkish President Recep Tayyip Erdogan speaks at his final election campaign rally in Beyoglu, the district of his childhood, in Istanbul.
People look from their windows as Turkish President Recep Tayyip Erdogan speaks at his final election campaign rally in Beyoglu, the district of his childhood, in Istanbul.
People look from their windows as Turkish President Recep Tayyip Erdogan speaks at his final election campaign rally in Beyoglu, the district of his childhood, in Istanbul, on May 13. Jeff J Mitchell/Getty Images

With high inflation and dwindling foreign reserves, Turkey doesn’t offer the most auspicious economic circumstances to an incumbent running for reelection. And yet Turkey’s president, Recep Tayyip Erdogan, came ahead of his main rival in last weekend’s presidential vote. He’s expected to win the second round scheduled for the end of this month. The shaky state of the Turkish economy is the product of the unorthodox economic policies Erdogan has put into practice over the past 20 years. But those policies may also be the key to his continued electoral success.

Cameron Abadi is a deputy editor at Foreign Policy. Twitter: @CameronAbadi

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