On the night of March 30, as the results of the Turkish local elections became clear, the discussions took a new direction: what to expect from Prime Minister Recep Tayyip Erdogan in the upcoming presidential elections in August.
On morning after, the Turkish stock market responded positively to the Justice and Development Party (AKP) win with a 1.95% gain at Turkey’s main stock exchange and a two-month high for the Turkish lira against the dollar at 2.163. At the moment, it seems that these results offered the best scenario for stabilizing the markets, though the elections might not mark the end of Turkey’s political crisis.
