Turkish economic duo key for markets as Erdogan eyes presidency

ANKARA, July 20 (AFP) : Markets are keeping a wary eye on the future of Turkey's two key economic policymakers if Prime Minister Recep Tayyip Erdogan is elected president in August polls.
Erdogan is credited with overseeing a transformation of the Turkish economy into a fast-growing emerging market in over a decade in power.
But some analysts are concerned he is seeking to defy the basic laws of economics by pressuring the central bank to slash interest rates despite high inflationary pressures and a still-gaping current account deficit.
Deputy Prime Minister Ali Babacan and Finance Minister Mehmet Simsek, who designed the economic policies of Erdogan's Justice and Development Party (AKP), have reassured financial markets that the government will pursue stable policies.
But it is an open question whether they will stay on if Erdogan -- as expected -- wins the elections on August 10.