AK Party brings out the big guns for economy, welfare


Economy, welfare and development is expected to constitute the core elements of the Justice and Development Party's (AK Party) election campaign, especially after the criticism following the June 7 elections that the drop in the party's votes is largely attributed to the lack of emphasis in the campaign on these areas. The AK Party followed an overall passive stance against ambitious economic pledges of its main rival Republican People's Party (CHP) that placed the economy to the core of its June 7 campaign, leading to the AK Party losing its rhetorical advantage on the issue as other parties joined the CHP in making economic pledges. In the Nov. 1 elections the AK Party wants to portray a more sound profile for the economy and recover the votes lost to the pro-Kurdish Peoples' Democratic Party (HDP) in Turkey's east and in large western cities by playing the economy card.

Examining the profiles of deputy candidates and their experiences, it can be said that two main lines in the economy will be represented in a future AK Party cabinet. The first one, represented by former Deputy Prime Minister Ali Babacan and interim Finance Minister Mehmet Şimşek, has already proven itself for boosting the economy, high growth rates and fiscal discipline since 2002. The other one, represented by interim Economy Minister Nihat Zeybekci, interim deputy prime minister in charge of economy, Cevdet Yılmaz, and Istanbul deputy Berat Albayrak, suggests an economic policy prioritizing growth through production while minimizing interest rates, which is a burden for new investments.

Babacan, whose candidacy was not clear until the last moment, was listed as an AK Party candidate for Ankara. Babacan served as economy minister in the 58th and 59th governments between 2002 and 2007, the period when Turkey's gross domestic product (GDP) grew by more than 5 percent on average along with a significant role in clearing Turkey's debt with the International Monetary Fund (IMF). Babacan gained a reputation in international business circles for being the "anchor" of Turkey's economy, an important reason for him to be appointed as the chief EU negotiator in 2005, and later as foreign minister in 2007 in the 60th government. Worsening economy due to global crisis in 2008 saw the return of Babacan to the head of the economy as a deputy prime minister in 2009, carrying Turkey's GDP growth from -4.8 percent in 2009 to 9.2 percent in 2010.

Şimşek, who is an important Kurdish-origin figure in Turkey's economic success story and who formulated the fiscal policy of the country during the recovery from the 2008 global financial crisis, is listed as a deputy candidate from the southeastern Gaziantep province.

As the 2008 crisis led to a global slowdown that lasted until 2013, then prime minister and current president, Recep Tayyip Erdoğan, aimed to shift the focus of the economy from foreign capital to direct investment, appointing economy ministers with business backgrounds in 2011 to the Cabinet. Zeybekci will once again run from his native western province of Denizli.

Yılmaz is listed as a candidate from the eastern province of Bingöl. Between 2009 and 2011 Yılmaz served as the minister in charge of the Southeastern and Eastern Anatolia Projects (GAP-DAP), which aim to transform economies and industries of these relatively underdeveloped regions. The Development Ministry was established in 2011 and Yılmaz assumed the post of development minister, holding it until 2015 when the interim caretaker government was established.

Another prominent figure among the AK Party's candidates related to economy issues is Sabah newspaper's economy columnist Berat Albayrak, who worked as a manager in the private sector for many years and is a board member of Turkuvaz Media Group. After studying finance in the U.S., he became the CEO of Çalık Holding. Albayrak has also been in the spotlight for his seminal views on economic issues.