Erdogan falls short in Turkish election: run-off ahead

Turkey's President Erdogan acknowledges a late night crowd as his likely victory emerges. (Image: Getty)

Tue, 16 May 2023

Turkey will hold its first-ever run-off presidential election, with the incumbent, Recep Tayyip Erdogan, just failing to secure enough votes for a first-round victory.The 69-year-old, looking to extend his two decades in power, will face Kemal Kilicdaroglu, 74, in another vote on May 28 after doing better than polls predicted.Turkish stocks and bonds dropped, while the cost of insuring the government’s debt against a default spiked, as the results wrong-footed investors betting on a quick end to Erodogan’s unconventional economic po...

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