Turkey’s Babacan Plans to Form Party to Challenge Erdogan's Rule

Turkey’s former economy czar Ali Babacan is planning to establish his own political party by the end of this year to challenge President Recep Tayyip Erdogan’s 16-year rule, a person close to Babacan said.

Babacan’s party is expected to include several former ministers and prominent economists who will work with him on formulating policies, the person said, speaking on condition of anonymity due to the sensitivity of the subject. A onetime Erdogan ally, he broke with the president’s ruling AK Party days after Erdogan sacked the central bank governor in July, and is likely to form his own faction in December, the person said.