Erdogan Suffers Historic Loss in Turkey Municipal Elections

  • Voters pressed by economy woes punish Turkish president
  • Support for Erdogan’s ruling party is at lowest on record
WATCH: Turkey’s Recep Tayyip Erdogan suffered an unprecedented defeat at the ballot box against the main opposition party in Sunday’s municipal elections. Beril Akman breaks down the situation.Source: Bloomberg
Lock
This article is for subscribers only.

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 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.