According to a flurry of opinion surveys released this month, more Turks now feel an opposition alliance is better prepared to address the economic upheaval that has overtaken their nation than President and his ruling AK Party (AKP). Under Erdogan’s push and despite strong inflation, the central bank has lowered interest rates by 500 basis points since September. This has sparked a currency crisis. The lira plummeted to its lowest level ever of 18.4 to the dollar last month.
Inflation has risen to a 19-year high of 36 %. It has severely reduced incomes, particularly for working and lower-middle-class Turks, who make up the AKP’s political base.
Outlook on Turkey’s Economy
Despite mounting public displeasure, the government has implemented budgetary measures to reduce currency volatility. The lira, on the other hand, is still 46% weaker than a year ago. Erdogan, who wants to boost exports and credit, has refused to change course.
According to the research polls, Erdogan’s popularity rating is at its lowest since 2015, at 38.6%. Erdogan has led Turkey for 19 years and faces elections in mid-2023. They demonstrate that his popularity lags behind those of three probable presidential contenders. According to a study conducted by the Sosyo Politik Field Research Centre, the AKP has 27 % support, compared to 37 % who stated they voted for the party in the last parliamentary election in 2018.
The Republican People’s Party (CHP), the main opposition party, earned 22.9 percent of the vote, with its IYI Party ally obtaining 10.3 percent and the pro-Kurdish Democratic People’s Party (HDP) receiving 9.4 percent. In addition, a quarter of the respondents were unsure.
Around two-thirds of those polled told that the economy was Turkey’s most serious issue. Moreover half of the respondents felt the government’s recent actions would have no effect on the economy.
According to a second survey, 36.7 percent of respondents said the opposition coalition was best qualified to handle the economy, compared to 35.4 percent who thought the AKP-MHP was best suited to manage the economy.
Around 38% of those polled said they appreciated Erdogan. He earned more than 52% of the vote in the 2018 presidential election, while Ankara Mayor Mansur Yavas and Istanbul Mayor Ekrem Imamoglu, both of the CHP, received 60% and 51% of the vote, respectively.