Turkey's Future Hangs in the Balance as Erdogan Seeks Re-election.

Turkey's upcoming presidential and parliamentary elections on May 14 could have significant impacts on the country's economy, politics, and geopolitical orientation. Incumbent President Erdogan is offering more of the same unorthodox monetary policies that have led to stop-go economic cycles and high inflation, while the opposition coalition is promising a return to economic policy orthodoxy and a more pluralistic political model. The election is also likely to be a vote on Turkey's broader direction of travel, with Erdogan having shifted the country away from Western liberal democracy and towards a more authoritarian, centralized model. The outcome of the election could also determine whether Turkey pivots back towards the West or continues to align with authoritarian regimes in Russia and the Gulf.