Country Risk

Erdogan Faces Biggest Test

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
Drop of Light/Shutterstock
  • Over a month after the devastating Turkey-Syria earthquake, the cost — both human and material — continues to rise.
  • A political reckoning could be awaiting Turkey’s veteran president, Recep Tayyip Erdogan, at landmark polls unofficially scheduled for May 14.
  • Defeat for Erdogan would be seismic for Turkey and the Middle East, and potentially impact Nato and the conflict in Ukraine by reorientating Turkey toward the West.

Turkey’s strongman has built a career on proving his doubters wrong. But no doubt this is Erdogan’s biggest challenge yet. The quake death toll is approaching 50,000 and rising by the day. The economy was struggling even before the quake, battered by the highest inflation rate in Europe, and struggling to climb out of a $109 billion trade deficit hole. The initial government response to the crisis has been widely criticized, even by its supporters, for being too slow. Poor enforcement of earthquake-related building regulations has clearly meant thousands more died than necessary. One opinion poll this week saw him trailing rival candidate for the presidency, Kemal Kilicdaroglu, by over 13%.

Elections, Gas Pipelines, Macroeconomics
Wanda Ad #2 (article footer)
The US and China both want de-escalation in the Middle East, but bilateral tensions mean it's uncomfortable for Washington observers to see Beijing play a pivotal role.
Thu, Mar 30, 2023
India has deferred announcing government-set prices of domestic natural gas for the April-September period.
Fri, Mar 31, 2023
The UK North Sea-focused player and other operators are urging the government to make changes to the energy profits levy, including applying a price floor.
Thu, Mar 30, 2023