Turkey’s Erdogan Sworn In, Signals Economic U-Turn With Cabinet Picks

ANKARA — President Tayyip Erdogan signaled Saturday his newly elected government would return to more orthodox economic policies when he named Mehmet Simsek to his Cabinet to tackle Turkey’s cost-of-living crisis and other strains.

Simsek’s appointment as treasury and finance minister could set the stage for interest rate hikes in the coming months, analysts said, a marked turnaround from Erdogan’s longstanding policy of slashing rates despite soaring inflation.

After winning a runoff election last weekend, Erdogan, 69, who has ruled for more than two decades, began his new five-year term by calling on Turks to set aside differences and focus on the future.


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Edited by Jesus Chan

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