Turkey swears in President Erdogan

Turkish President Tayyip Erdogan greets members of parliament from his ruling AK Party during a meeting at the Turkish parliament in Ankara Turkey

President Recep Tayyip Erdogan of Turkey has expressed satisfaction and pride over the strengthening of Moroccan-Turkish bilateral ties.

Erdogan's restructuring is the most significant adjustment of the country's political system since the formal establishment of modern Turkey.

President Recep Tayyip Erdogan appointed his son-in-law as Turkey's finance minister on Monday hours after he was sworn in with sweeping new executive powers, promising a "strong government and a strong Turkey". Erdogan has described the consolidation as a means to eliminate governmental inefficiency, and his base views his consolidation of authority as a deserved outcome for a leader who has instilled Islamic values in public life, according to Reuters.

Under the new decree, Erdogan will decide on the promotion of top army officers including colonels, brigadier generals, admirals and generals in the Turkish armed forces.

Erdogan's ruling Justice and Development Party (AKP) on Saturday nominated Yildirim as parliament speaker, an appointment likely to be rubber-stamped by the chamber on Thursday.

Erdogan, 64, says a powerful executive presidency is vital to drive economic growth, ensure security after a failed 2016 military coup and safeguard Turkey from war across its southern border in Syria and Iraq.

More than 150,000 state employees have lost their jobs in the crackdown that followed the coup attempt, and the interior minister said in April some 77,000 people have been formally charged and kept in jail during their trials.

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"The pace at which he (Erdogan) is moving to tighten his grip is alarming and, in response, Turkish financial assets have come under pressure", said Jason Tuvey, senior emerging markets economist at Capital Economics, in a note to clients.

Venezuelan President Nicolas Maduro, Hungarian Prime Minister Viktor Orban and former Italian Prime Minister Silvio Berlusconi were due to attend the ceremony. In the evening, he'll mark the inauguration of the presidential system at a grand reception attended by foreign dignitaries, before unveiling the members of a cabinet expected to be pared to 16 positions from the current 27.

The post of prime minister will be scrapped.

Albayrak's surprise switch from the energy ministry spooked financial markets, who were also unhappy to see there was no room for outgoing deputy prime minister Mehmet Simsek, the government's pointman on the economy. An adviser to Erdogan later said that the governor's term would remain at five years.

Under his leadership Ankara started accession talks with the European Union, which stalled amid EU criticism of Turkey's human rights.

With more than 900,000 active personnel, Turkey has the second largest force in North Atlantic Treaty Organisation after the United States which has nearly 1.5 million.

The event at parliament in the capital, Ankara, concludes the country's transition from a parliamentary system to an executive presidency, in line with the constitutional changes approved in a referendum past year. Erdogan has prevailed in a dozen local, parliamentary and presidential elections. After his election victory two weeks ago, Erdogan said he would spare no effort to spur economic growth. "We are leaving behind the system that has in the past cost our country a heavy price in political and economic chaos".

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