According to Xinhua, Mr. Erdogan's victory comes in the context of the country's economic difficulties and cost of living crisis. The Turkish lira has lost about 80% of its value against the US dollar in the past five years and the inflation rate is about 50%. Although the balance of power had been tilted in President Erdogan's favor before the second round of the election, the narrow victory also showed the deep divisions in the country.

Speaking to supporters outside the presidential palace in Ankara, Mr Erdogan stressed that the election was the "most important" event for Türkiye in the modern era. He called on the Turkish people to unite and stand together. "There are no losers. Victory belongs to all 85 million Turks," he asserted.

Turkish President Recep Tayyip Erdogan addresses supporters after winning.

During the election campaign, President Erdogan declared that if he won, Türkiye "would be completely changed and the future would be seen in a different way". And now that he has been re-elected, he has reiterated his promise that easing economic hardship and healing the "wounds" of last February's devastating earthquake will be his top priorities.

Türkiye's faltering economy will be the most immediate test for President Erdogan, who has declared inflation the country's most pressing problem, experts say. It is crucial that Turkey intervenes with monetary policy to prop up the lira, which has been sliding sharply due to record low foreign exchange reserves.

Ahead of the crucial vote to determine who will be Türkiye's president, the country's net foreign exchange reserves have fallen into negative territory for the first time since 2002. Experts say this is related to the Turkish government's recent controversial efforts to win the election, which have tried to stabilize the lira by implementing unconventional policies and maintaining low interest rates amid rising inflation. This has brought many risks to the economy.

It can be said that President Erdogan's next journey will face many difficulties, because in addition to economic issues, he will also have to endure domestic and foreign pressures. It is likely that in his new term, Mr. Erdogan will seek to improve relations with Western countries to attract investment and revive the economy. In addition, the priority is to normalize relations with countries in the region, the Eastern Mediterranean, North Africa... to create a stable environment, helping economic development.

It is known that after Mr. Erdogan won, many leaders and heads of Arab countries, Russia, the US, Iran and regional organizations congratulated Mr. Erdogan. That shows the interest of the region and the world in the election in general and Mr. Erdogan in particular.

Some experts also believe that Mr. Erdogan's continued tenure will benefit Russia-Türkiye relations. In his victory speech, President Erdogan pledged to implement the project to build an international gas center in Turkey as proposed by Russian President Vladimir Putin. He affirmed: "I will further strengthen Türkiye's position by investing in the transport and energy sectors, which are the basic infrastructure for developing to the world level."

NETHERLANDS