Business news from Ukraine

Erdogan sworn in before parliamentarians

Turkish President Recep Tayyip Erdogan’s swearing-in ceremony was held Saturday at the Turkish parliament.

“The swearing-in ceremony and inauguration of Turkish President Recep Tayyip Erdogan took place Saturday, June 3, at the Turkish parliament building in Ankara,” Anadolu Agency reported.

The ceremony was attended by representatives from 78 countries, including the heads of state and government of 20 countries.

Erdoğan, 69, was elected to a third presidential term – until 2028.

Later, Erdoğan will lay a wreath at the mausoleum of Mustafa Kemal Atatürk, the founder and first president of the Republic of Turkey. A luncheon in honor of the guests who arrived for the event is also planned.

On Saturday, Erdogan will also name a new Turkish cabinet.

Erdogan won the second round of the Turkish presidential election, which was held on May 28. According to data after processing 99.75% of ballots, Erdogan received 52.1% of the votes, while his opponent, opposition leader Kemal Kılıçdaroğlu, won 47.9%.

Earlier, a video on the Club of Experts channel analyzed the situation in Turkey after the elections. The full video can be seen at the link:

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Turkish lira falls and stock market rises after Erdogan’s re-election

Turkish lira exchange rate on Monday once again updated its historic low against the U.S. dollar on the results of the presidential election.
The national currency is trading at 20.1004 lira/$1 from 19.9731 lira/$1 at the close of the previous session. Over the past twelve months, the lira has fallen in value by about 23 percent.
Analysts at Morgan Stanley predict that the Turkish currency rate could drop another 29% by the end of this year – to about 28 lira/$1 if the country’s current policies persist. The experts at Wells Fargo & Co. expect a decline to 23 liras/$1 by the end of the current quarter.
Meanwhile, the BIST 100 stock index jumped 4.1 percent in trading Monday to a two-week high. It has nearly doubled over the year (up 88.2%).
Leaders of the rise include companies that earn a significant portion of their revenues from abroad, including glass maker Sise ve Cam Fabrikalari (+6.2%) and Turkish Airlines (+3.3%).
The yield on Turkey’s ten-year government bonds is around 9% annually, the lowest level since January.
Current Turkish President Recep Tayyip Erdogan won the second round of presidential elections. In a speech after the announcement of his victory, he called on his fellow citizens to unite and work together for the good of the country, and promised to address urgent problems, in particular to deal with the effects of inflation.

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Erdogan declares himself winner of elections in Turkey

Turkish President Recep Tayyip Erdogan said on Sunday that he had won the presidential election.

“Our nation has made a choice and once again empowered us to lead the country for another five years,” Erdogan said, addressing his supporters at a rally.

He thanked all Turkish citizens who voted for him.

The presidential election in Turkey is already being called the main election of 2023 in the world. The pre-election economic and political situation in Turkey was analyzed by the Club of Experts research center, watch the video with the Club’s experts here:

The presidential election in Turkey is already being called the main election of 2023 in the world. The pre-election economic and political situation in Turkey was analyzed by the research center of the Club of Experts, watch the video with the Club’s experts here:


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“Experts Club” analyzed the candidates’ chances in the second round of presidential elections in Turkey

The YouTube channel of the Kiev analytical center “Club of Experts” has released a new video in which the founder of the project, PhD in Economics Maksim Urakin and the editor-in-chief of the “Ukraine in Arabic” portal Mohammad Farajallah forecast the results of the upcoming second round of presidential elections in Turkey and also analyzed possible developments after the end of the vote.

According to the experts, the incumbent president Recep Tayyip Erdogan has much more chances to win than his rival, Kemal Kılıçdaroğlu, the leader of the united opposition. This prediction is due both to the behavior of the top politicians themselves before and after the first round of elections, as well as the position of third-place winner Sinan Ogan, who has already expressed his support for Erdoğan with 5 percent of the vote.

“Erdoğan conducted his election campaign well by not engaging in open polemics with the opposition on earthquake relief, democracy development and the economic situation. Instead, he focused voters’ attention on the themes of security and the “dignity of the nation” as well as Islamic identity. In addition, the increase in wages and the cancellation of utility bills on the eve of the election also played a role “- says Mohammad Farajallah.

According to the expert, these actions also helped Erdoğan win over nationalist forces, whose single candidate, Sinan Oğan, openly supported the incumbent president on the eve of the second round.

“The opposition, on the contrary, started to behave rather nervously after the first round, which was mainly reflected in Kemal Kilicdaroglu’s aggressive rhetoric with regard to the Syrian refugees who received Turkish passports under the social programs initiated by Erdogan,” he stressed.

In his turn, Maksim Urakin noted that Turkish voters were generally disappointed by Kylicdaroglu’s rhetoric as they expected concrete programs of economic and political actions from the opposition alliance after the elections.

“No specifics were heard from the opposition regarding social support for youth, the older generation, support for entrepreneurs and normalization of the situation in the economy,” says Maxim Urakin.

In his opinion, expectations of Kılıçdaroğlu’s victory already in the first round were somewhat “overheated” by a number of opinion polls, which predicted this candidate a serious advantage over Erdoğan (up to 5-7%), but were subsequently not confirmed at the elections themselves.

At the same time, according to experts, there is still a serious split among Turks with regard to the policy of the current president, and Erdoğan, if he wins the elections, will have to work hard to consolidate society within a single national consensus.

See more in the video on the Club of Experts channel at the link:

Subscribe to the Club of Experts channel here:

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Experts analyzed pre-election situation in Turkey and Ukrainian-Turkish relations

A new video on YouTube channel of the analytical center “Club of Experts” examined the options for the upcoming presidential and parliamentary elections in Turkey. Ukrainian experts expressed their opinions and gave forecasts regarding the political situation in this country.

Mohammad Farajallah, editor-in-chief of the Internet publication “Ukraine in Arabic,” stressed that the upcoming elections in Turkey are of great importance for the region and arouse the interest of the international community.

“Turkey is an important player on the world stage, and its domestic policy directly affects the situation in the region and beyond. Therefore, the results of the elections will be monitored with great attention,” he noted.

In turn, the founder of the Club of Experts, Maksim Urakin, Ph.D. in Economics, shared his vision of possible scenarios after the elections. He stressed that there are two main political forces fighting for leadership in Turkey: the Justice and Development Party (AKP) led by President Recep Tayyip Erdogan and the Republican People’s Party (CHP). Kemal Kılıcdaroğlu, allied with five other opposition political forces.

“Two scenarios are possible. If the AKP wins, we can expect a continuation of the policies Erdoğan has pursued in recent years, with a focus on enhancing domestic stability and strengthening Turkey’s position in the international arena. On the other hand, if the CHP wins, we may see a more pro-Western orientation and increased cooperation with the European Union and the United States,” the expert said.

According to Urakin, a win for either candidate in the first round is unlikely, and the winner of the presidential race will most likely be determined by a second ballot.

Both experts also noted the significance for Ukraine of the election results in Turkey.

“Ukraine has close economic and political ties with Turkey, so the election results will have a direct impact on our relations and cooperation. Over the last year, as a result of the war, trade turnover between our countries has decreased, but I believe that if the current political course is maintained, we can expect further development of trade and economic relations between Ukraine and Turkey,” said Maxim Urakin.

In addition, the expert cited statistics on exports from Ukraine to Turkey in 2022, according to which it has decreased significantly.

“Last year, the volume of Ukrainian exports to Turkey was about 3 billion dollars as opposed to more than 4 billion in 2021, that is, we see a drop of 29%,” Urakin said.

According to Mohammad Farajallah, in the current geopolitical situation Turkey is an important partner of Ukraine in various spheres, which include both military support (UAV Bayraktar, light armored vehicles) and cooperation in economy, energy and other spheres.

The expert also suggested that if the opposition wins, Turkey is more likely to join sanctions against Russia.

“Naturally, the new government will be as close to the West as possible and can be included in a common unified Western policy against Russia. This, of course, will be to our advantage. But these are just preliminary words for now, perhaps they (the opposition – ed.) will come, look at the numbers and continue Erdogan’s current policy,” said Farajallah.

It should be noted that on the eve of the voting, Erdoğan lags behind his main rival Kılıçdaroğlu by more than 5%, according to a poll published by the Turkish sociological center KONDA on May 11.

Thus, Erdoğan gets the support of 43.7 percent of respondents, while Kılıçdaroğlu gets 49.3 percent.

The poll also reveals that neither candidate gets more than 50% of the votes, which means that if these data are confirmed in the elections, the winner will be chosen in the second round, which is scheduled for May 28.

The KONDA polling service conducted personal interviews with 3,480 people in 35 provincial centers.

At the same time, according to other surveys, in particular the Istanbul-based Center for Operational Social Research (Yöneylem), Erdoğan’s party was supported by 35.2% of voters in the parliamentary elections and Kılıcdaroğlu’s CHP by 30.7%.

For more on Turkey’s elections, see the video:

Subscribe to the Experts Club channel by clicking here:

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Turkish Health Minister denied rumors about Erdogan’s health problems

Turkish Health Minister Fahrettin Kocia said Thursday that President Recep Erdogan’s health is fine, Turkish media reported.
“I was with him this morning. He is fine. The effects of the infection he contracted have diminished,” the minister wrote on social media.
For his part, Fahrettin Altun, head of the Turkish presidential administration’s communications department, denied reports about Erdogan’s serious condition that appeared earlier in the media, and said that the Turkish leader continues to work.
“The opposition is trying to gain political advantage by spreading unfoundedly distorted information even about our president’s health condition. Our president continues to serve with great strength, health and energy,” Anadolu quoted Altun as saying.
The agency recalls that the day before the Center to Combat Disinformation of the Communications Department denied reports in some social media accounts that Erdogan “had a heart attack and was hospitalized. According to the center’s statement, they do not reflect the truth.
Turkish and foreign media reported that Erdoğan felt unwell during an interview on Tuesday night, for which he had to interrupt his live broadcast. Allegedly, it was an acute digestive disorder.
“There was quite intense campaign work yesterday and today, and because of this work, my stomach got sick,” Erdoğan explained on Tuesday.
Because of his health problems, Erdogan cancelled campaign events that were scheduled for Thursday. At the same time, Anadolu writes that the president cancelled plans to rest after a number of his campaign events.

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