Erdogan suffers historic loss in municipal elections
Istanbul | Turkey’s Recep Tayyip Erdogan suffered an unprecedented defeat at the ballot box against the main opposition party amid rampant inflation and the highest borrowing costs since the president swept to power more than two decades ago.
Turkey’s lira weakened in early trading on Monday after Mr Erdogan’s AK Party fell behind the main opposition Republican People’s Party, known as CHP, in Sunday’s municipal elections for the first time ever, according to early results published by state broadcaster TRT.
Bloomberg
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