Turkey to hold early elections - Rabobank

President Erdogan announced that Turkey will hold early presidential and general elections on June 24, points out the research team at Rabobank.

Key Quotes

“The decision to bring forward the crucial vote from November 2019 was justified by “a necessity for Turkey to overcome uncertainties as soon as possible amid developments of historical importance in our region as well as cross-border operation we’re carrying out in Syria” and to accelerate the transition from a parliamentary to a presidential system.”

“We have argued on previous occasions that it would be reasonable to expect the governing AKP and President Erdogan to seriously consider snap polls before the current bout of robust economic activity stimulated by a substantial dose of fiscal measures runs out of steam.”

“While the decision is not a major surprise to us, we are somewhat puzzled by the outburst of market optimism.”