President Tayyip Erdogan's opponents face an uphill struggle to end his two-decade rule of Turkey in a runoff vote on May 28 after he performed better than predicted in a first round of voting on Sunday but fell short of an outright majority.
Turkish President Tayyip Erdogan greets his supporters after he casts his ballot at a polling station in Istanbul, Turkey, May 14, 2023. Murat Cetinmuhurdar/ PPO/ Handout via REUTERS
"The winner has undoubtedly been our country," Erdogan said in a speech to his cheering supporters at the headquarters of his ruling AK Party in the capital Ankara overnight. The election has been closely watched in Europe, Washington, Moscow, and across the region, where Erdogan has asserted Turkish power while strengthening ties to Russia and putting strain on Ankara's traditional alliance with the United States.
A third candidate, the nationalist Sinan Ogan took some 5.2% of the vote and analysts said he could play a "kingmaker" role in the runoff if he decides to endorse one of the two. The political uncertainty was expected to weigh on financial markets in the next two weeks. Overnight the lira hit a new two-month low against the dollar, weakening to 19.70 before edging back to 19.645 by 0600 GMT.
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