Turkey has been through difficult times in the past few years: a coup attempt in 2016 and a controversial constitutional referendum in 2017 that concentrated executive powers in the hands of President Erdogan who is ruling Turkey for 16 years.

The war in neighboring Syria has also had a serious impact on Turkish economy. The country's budget deficit has meanwhile suffered the effects of fiscal amnesty and massive payout to old age pensioners ahead of the June elections.

Meanwhile, Turkey's two major public banks have cut mortgage rates this week, heading Erdogan's call for easing housing loans because construction is one of the pillars of the Turkish economic growth since Erdogan came to power in 2003.

Erdogan, who faces five other candidates, currently tops opinion polls for the presidential elections. But he has to reach the 50 percent-plus-one level of support to win the race in the first round of voting and avoid a run-off election two weeks after June 24.

Four opposition parties have formed an alliance to challenge him in the parliamentary vote and if Erdogan's ruling Justice and Development party (AKP) loses its majority in Parliament, it could be a serious hurdle for the head of state.

In 15 years of rule, economy has always been the strongest point of Erdogan who has transformed Turkey with major housing and building projects.

【国际英语资讯:Spotlight: Turkeys Erdogan vows to take effective economic control if winning June electio】相关文章：

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