Turkey's municipal elections of 31 March 2024, contrary to all predictions, represented a genuine political earthquake where the bloc linked to the country's president, Recep Tayyip Erdogan, received its first defeat since 2002. Erdogan's victory in the 2023 elections, despite all the hopes of the opposition, had been a source of demoralization and loss of interest in politics.
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EconoTimes is a fast growing non-partisan source of news and intelligence on global economy and financial markets, providing timely, relevant, and critical insights for market professionals and those who want to make informed investment decisions.
Since June 2015 and especially after the failed coup attempt in July 2016, the AKP has taken an increasingly nationalist and Eurasianist turn, as Erdoğan worked to consolidate power by satisfying various nationalist elements. The transition to the presidential system in mid-2018 has intensified Turkey’s existing foreign policy problems and given rise to new ones. This paper lays out the evolution of the AKP’s foreign policy, the consequences of the transition to the presidential system, the impact of Erdoğan’s coalition with the nationalists and Eurasianists, and potential pathways forward.