The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Islamist upturn threatens reform

The IMF has disbursed $13 billion to Tukey this year and claims to see widespread support for economic reform in the country. But the summer’s political crisis has raised the prospect of electoral success for the Islamists.

Recep Tayyip

Turkey looks set to have an assembly dominated by two extremist parties, the Islamists and ultra nationalists, after the November 3 general election.

Opinion polls in mid-August unanimously confirm that the Justice&Development Party (AKP) is in the lead and stands to gain around 20% of the vote - nearly double that of its closest rival. But the peculiarities of the election law means it is uncertain that this will give the AKP a majority or even enough seats in the legislature to be a part of the government.

Under the election law only parties that get more than 10% of the vote gain seats in the 550-member Meclis. The only other party definitely above this threshold is deputy prime minister Devlet Bahceli's ultra right-wing Nationalist Action Party, which is forecast to receive around 11% of the vote.

The five other mainstream centre-left and centre-right parties are on the borderline and may or may not make it into the Meclis.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree