Recep Tayyip Erdogan has been sworn in as president of Turkey after his election victory last month which allowed him to keep his post with increased powers.
Tayyip Erdogan was sworn in again as Turkey's president on Monday, assuming sweeping powers he won in a referendum past year and sealed in a hard-fought re-election victory two weeks ago.
Among 22 heads of state attending will be Venezuelan President Nicolas Maduro, regarded with disdain by Washington but an ally of Erdogan, and Ukrainian President Petro Poroshenko. Erdogan, who has dominated Turkish politics for 15 years, says the powerful new executive presidency is vital to drive economic growth, ensure security after a failed 2016 military coup and safeguard the country from conflict in Syria and Iraq.
"We are leaving behind the system that has in the past cost our country a heavy price in political and economic chaos", said Erdogan in an address late on Monday. Many independent and opposition news sources have been eliminated, and Turkey has become the world's biggest jailer of journalists.More news: Section 377 Hearing in Supreme Court
Erdogan pledged to "reinforce the social state" in the new era and "leave behind the days that people were externalized and alienated for whatever reason".
Abolishing the post of prime minister, the president will now form the government, appoint ministers, vice presidents and high-level bureaucrats, issue decrees, prepare the budget and has the power to impose a state of emergency.
"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. Erdoĝan has repeatedly clashed with strategic allies such as the United States and the European Union in recent years over the war in Syria, Turkey's accession to the EU, human rights abuses by Ankara, Europe's failure to support Turkey during the coup attempt, and rising Islamophobia in Europe.
It has also emerged that Mehmet Simsek, a former banker at Merrill Lynch who acted as deputy prime minister in Turkey's previous government, will not hold a position in the new cabinet.
Foreign Minister Mevlut Cavusoglu, Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul have retained their portfolios in the new cabinet.More news: These are the semi-final matchups at the FIFA World Cup (SCHEDULE)
Additionally, Turkish armed forces chief of staff General Hulusi Akar will be in charge of the defense ministry.
Erdogan will face immediate and major challenges in his second term, posed by an imbalanced fast-growing economy and foreign policy tensions between the West and Turkey, a North Atlantic Treaty Organisation member.
Observers said tough decisions on two main issues, the economy and foreign policy, await Erdogan.
"We are embarking on this road by using this opportunity as best we can for a strong parliament, strong government and strong Turkey", he said.
"We will take our country much further by solving structural problems of our economy", he said on Saturday, referring to high interest rates, inflation and the current account deficit.More news: Facebook handed maximum data breach fine for role in Cambridge Analytica scandal
The changes are the result of a bitterly fought referendum in 2017, where Mr Erdogan campaigned for a Yes vote and won narrowly amid allegations of vote rigging.