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ISTANBUL (dpa-AFX) – After winning the presidential election in Turkey, incumbent Recep Tayyip Erdogan faces major challenges. It is eagerly awaited how the outcome of the election on Monday will affect the national currency, the lira. The currency has lost massively in value over the past two years, and inflation in the country is around 44 percent.
The 69-year-old Erdogan won the runoff against opposition leader Kemal Kilicdaroglu (74) on Sunday. According to the preliminary results of the electoral authority, Erdogan received around 52 percent of the votes, Kilicdaroglu around 48 percent. Voter turnout was 85 percent.