Erdoğan does not want early election, says economic advisor Bulut

“What has our president said since his term as prime minister? He has always said he favors elections being made on time. His view has not changed,” said Bulut on state-run broadcaster TRT Haber, as quoted by Reuters. 

Upon a question about whether there is a possibility of change in the economic administration, Bulut said “countries and economies are based on systemic dynamics rather than people.”

Prime Minister Ahmet Davutoğlu announced last week that the ruling Justice and Development Party (AKP) would hold an extraordinary convention on May 22 and he would be a candidate. 

Bulut said this change had been experienced in a “quiet and calm way,” but admitted that markets had been hit amid fears of uncertainty over Davutoğlu’s stepping down. 

He claimed that such economic problems were caused by “systemic” issues, again stressing the importance of shifting Turkey to a presidential system of governance, as demanded by President Erdoğan.

“The foreign exchange rate has calmed down now, but I still believe the markets could not read developments in a proper way … There are negative developments in global markets, but a road has been opened in Turkey for quite different developments. The markets priced some of the developments negatively last week, but there is a systemic problem in Turkey as the system cannot handle such a kind of ‘dual management,’” Bulut stated.