Erdogan at the Inauguration Ceremony: I Will Defend Turkey's 'Existence and Independence'

Recep Tayyip Erdogan, the President of Turkey, took an oath on Saturday after winning re-election last week, entering his third decade of rule over the country. In a ceremony at the parliament, Erdogan stated that as President, he vows to defend the 'existence and independence' of the nation. In the second round of voting on May 28, he secured 52.2% of the votes. His victory came despite polls indicating otherwise, and it appeared that the cost-of-living crisis in Turkey would undermine his chances of winning. After taking the oath in parliament, he will attend a ceremony at the presidential palace with high-ranking officials from 78 countries and international organizations, including the NATO Secretary-General. He will then introduce his cabinet, and it is expected that this move will signal a change in his 'unconventional' approach to economic policies. Reuters has reported the possibility of Mehmet Simsek, the former economic affairs chief, returning to orthodox economic policies, including interest rate hikes. Simsek served as Minister of Finance and Deputy Prime Minister from 2009 to 2018 and was able to attract investor attention. The 69-year-old Erdogan became Prime Minister in 2003 following the Justice and Development Party's victory in elections, during the worst economic crisis Turkey had faced since the 1970s. In 2014, he became the first President elected 'by direct vote of the people' and was re-elected after gaining new executive powers in a referendum three years later. In his victory speech after this year's elections, Erdogan stated that inflation, which had peaked at 85% last year, was Turkey's most urgent issue. Analysts have warned that if current policies continue, the economy could head towards chaos. The Turkish lira has experienced multiple declines in recent years and reached its lowest point in the days following the recent presidential election. Opposition television stations in Turkey have been accused of 'offensive coverage' of the elections, with Kilicdaroglu stating that this was the 'most unfair' election in recent years in Turkey. Erdogan's continued rule in Turkey has been congratulated by many world leaders.