6/3, 4:41 PM (Source: TeleTrader)
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Erdogan sworn in for new 5-year term as president

Turkish President Recep Tayyip Erdogan was sworn in on Saturday for a new five-year term in office after winning re-election at last weekend's runoff vote with 52.2% support, extending his rule to a third decade.

"I, as president, swear upon my honor and integrity before the great Turkish nation and history to safeguard the existence and independence of the state," Erdogan said during the official ceremony at the Turkish parliament in Ankara.

Erdogan is expected to unveil a new cabinet later today, making a change to his controversial economic policies as the country faces record inflation. Commenting on the crisis, Erdogan insisted earlier this week the main task of the new government will be to cut inflation to single digits down from April's 44%.

Baha Breaking News (BBN) / ND