Bloomberg News

Erdogan’s New Government Wins Vote of Confidence in Ankara

July 13, 2011

July 13 (Bloomberg) -- Prime Minister Recep Tayyip Erdogan got a vote of confidence from Turkey’s parliament today, starting his third-term in government with a promise to rewrite the constitution and extend economic growth.

The administration formed after June 12 elections got 322 votes in the 550-member assembly in Ankara, speaker Sadik Yakut said. Pro-Kurdish independent lawmakers still haven’t joined the parliament.

The governing Justice and Development Party, or AKP, faces a record current account deficit that’s sent the Turkish lira to a two-year low. Erdogan has also pledged to seek consensus with opposition parties to replace a national charter adopted after a 1980 coup.

Erdogan needs support from his rivals, who staged a protest of court and electoral board decisions barring their lawmakers from joining the parliament, signalling that it may be difficult to get all four parties in the legislature to agree on a new constitution.

Turkey’s current account deficit in the 12 months including May rose to $68.2 billion, or about 9 percent of gross domestic product and the biggest since the central bank started keeping records in 1984.

The lira has fallen 7 percent this year and was trading at 1.6510 per dollar at 4:27 p.m. in Istanbul.

The AKP, which has seen record levels of growth since forming its first government in 2002, needs 330 votes in parliament to hold a referendum on the new constitution and support from 367 members to pass it straight into law. Erdogan has 327 deputies.

To contact the reporter on this story: Emre Peker in Ankara at epeker2@bloomberg.net

To contact the editor responsible for this story: Steve Bryant at sbryant5@bloomberg.net


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