North Atlantic Treaty Organisation chief congratulates Erdogan on Turkey election win

President Recep Tayyip Erdogan votes with his grandchildren in Istanbul

Erdogan defeated his nearest rival Muharrem Ince with an "absolute majority" of more than half the vote without needing a second round, said the chief of Turkey's election authority, Sadi Guven.

".Any rally could quickly go into reverse if President Erdogan uses his strengthened position to pursue looser fiscal and monetary policy, as we fear is likely", said Jason Tuvey, senior emerging markets economist at Capital Economics.

Turkish President Recep Tayyip Erdogan won a decisive victory in the elections Sunday, extending his 15-year reign and also cementing the sweeping powers he had long sought.

He insisted the "loser" of the elections was the ruling Justice and Development Party (AKP) of Erdogan after its vote fell in parliamentary polls but did not criticise himself or the CHP even though its vote also fell. Moreover, the opposition can not mobilize either the necessary 360 legislative votes needed to investigate Erdogan's presidency or the 400 votes needed to try him in the country's highest court.

Mr Erdogan, 64, returns to power after gaining a comfortable 52.6% of the vote - but his ruling Justice and Development Party suffered losses as it polled 42.5% in a parliamentary ballot.

Turkish President Recep Tayyip Erdogan arrives to deliver a speech, June 24, 2018, in Istanbul, after initial results of Turkey's presidential and parliamentary elections.

But Ince, who had faced limited airtime on television in the campaign and a near boycott by state media, said the run-up to the election had been unfair.

"I accept the election results", İnce said at a press conference at his party's headquarters, adding that despite some votes being stolen, the overall result was not in question.

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Turks vote for president, parliament in crucial test for Erdogan
Turkey's opposition candidates have repeatedly complained over the lack of airtime offered by largely pro-government media. Ince further stressed that he would lift Turkey's state of emergency which has been in place over the past two years.

Ince expressed alarm over the powers Erdogan assumes under the new government system which he described as "a one-man regime".

Despite the Iranian refusal to support a Turkish attack on Qandil, Turkey's relations with Iran will continue to improve under Erdogan-who has not forgotten Iran's support to him on the night of the failed coup of July 2016.

Conceding defeat, Ince warned that constitutional changes ushered in by Erdogan earlier in the year represented a threat to the country's democracy.

"I will keep up the fight as someone who got the approval of one person among every three in Turkey", he added. The EU's executive Commission said it hoped Erdogan would "remain a committed partner for the European Union on major issues of common interest such as migration, security, regional stability and the fight against terrorism". While he said the polls would stabilise the country amid a troubled time in the region, his critics said the elections were being rushed through so he could consolidate power before cracks in the economy became too apparent.

The MHP performed particularly well in the election, winning 49 seats and indicating that many Turks are still very much in favor of a nationalist government. Reports suggest that Erdogan is also itching to take the battle against the Kurds to the PKK redoubt in the Qandil Mountains in Iraq.

The HDP easily broke through the 10 per cent minimum vote threshold to pick up 67 seats, sparking wild celebrations in its Kurdish-majority stronghold of Diyarbakir.

"We're working to set up a call between the president and the president of Turkey to reaffirm our strong bond", she said.

In a tweet, Demirtas hailed a "great victory" despite suffering "the biggest injustice of the campaign". Turkey has been cracking down on US-allied Syrian Kurds, cozying up to Russian Federation and acting increasingly hostile toward the US. The United States, France and Germany don't want us to be stable.

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