Turkey re-elected President Erdoğan in the May 28th election, marking an intriguing experience for the country. The opposition politicians and citizens were confident in their potential victory, particularly in the first round. In the 2019 municipal elections, the Millet Alliance, led by the Republican People's Party (CHP) and the Iyi Parti (İYİP), supported by the Democratic Party (DP) and the Felicity Party (SP), successfully won municipalities from the ruling Justice and Development Party (AKP) in major cities like Istanbul, Ankara, Adana, Mersin, and Antalya. This triumph served as a significant motivation for Erdoğan's opponents.Additionally, President Erdoğan exerted considerable effort to repeat the local elections in Istanbul, and in the subsequent election, the CHP candidate Ekrem İmamoğlu further increased his vote share and assumed the position of Istanbul's mayor. This outcome demonstrated the opposition's notable success under the umbrella of an alliance. Naturally, Erdoğan's opponents entered the general election under the Millet Alliance, leveraging the strength gained from the 2019 elections. However, the alliance system that proved effective in the local elections did not yield the same outcome in the general elections, resulting in Erdoğan securing his third term as the President of the Republic of Turkey.On the contrary, Erdoğan now faces a more challenging test: the economy. Despite presenting an electoral economic plan and making certain economic promises such as reducing unemployment, achieving a growth rate of 5.5%, raising the national income per capita to $16,000, and constructing favorable housing for earthquake victims, Erdoğan did not place significant emphasis on economic promises during his pre-election propaganda. While articles were written and leaflets were prepared on these matters, economic developments were not the focal point of Erdoğan's rallies or television programs. Instead, he primarily focused on accusing the opposition alliance of supporting terrorism. It remains uncertain whether this discourse resonated with the public, but it is evident that this was the primary issue Erdoğan emphasized throughout the campaign.While inflation and the devaluation of the Turkish lira are the most pressing issues in Turkey, the lack of emphasis on the economy Erdogan during the election process has raised concerns among economists. As mentioned in previous bulletins, the Turkish economy is grappling with high inflation, a depreciating currency, and a significant current account deficit. The proposed "Turkey Economy Model" and "Liraization" strategy, aimed at addressing these problems, have largely depleted the reserves of the Central Bank of the Republic of Turkey (CBRT), raising doubts about whether Erdogan will reconsider this model after the elections.Although the economy was not the central focus of Erdogan's campaign, discussions surrounding how to revive the economy and who would be entrusted with its management have dominated the post-election discourse. In this regard, the name Mehmet Simsek has emerged as a prominent figure. Before the elections, Erdogan held several meetings with Mehmet Simsek, and it was even announced to the press that these meetings were taking place. However, no significant developments on this matter were observed at that time.Mehmet Şimşek is widely recognized in the Western capital as a successful finance minister, particularly during the period when the Turkish economy was highly regarded in Europe. Together with Ali Babacan, he managed the Turkish economy during a time of prosperity. Simsek was named the finance minister of the year by Emerging Markets magazine in 2013 and was recognized as one of the 500 most influential people in the world by Foreign Policy magazine in the same year. However, the Turkish economy took a different direction with significant changes, particularly under Berat Albayrak, who is Erdogan's son-in-law.It appears that Erdogan intends to reappoint Mehmet Şimşek to oversee the economy in an attempt to return to the successful past. However, at the same time, Erdogan seems determined to maintain his belief that "interest rates are the cause of inflation."&nbsp;It remains uncertain whether there will be a return to orthodox economic policies or if a middle ground can be reached between Simsek and Erdogan. Only time will reveal whether Simsek's economic understanding and Erdogan's perspective on interest rates can work harmoniously.

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