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Erdogan’s party in Turkey resumes more traditional, free-market economic policies

Erdogan’s ruling Justice and Development Party (AKP) has recently announced a shift in economic policy, moving away from its past practices of government intervention and back towards more traditional, free-market policies. The changes include increasing the independence of the Central Bank of Turkey and introducing a new central banking law, as well as reforms to the banking sector, privatization of state-owned enterprises, and a focus on reducing inflation and increasing growth. The AKP is also looking to introduce tax cuts and deregulation to stimulate the economy. These policies are expected to help attract foreign investment, stimulate job growth and encourage economic development.