A man reads a newspaper in central Istanbul, Turkey, on Monday, Aug. 11, 2014. (AP Photo/Emilio Morenatti)
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After building a political career based on economic strength, Turkey's Recep Tayyip Erdogan may have to spend some of the next five years repairing the damage that his pursuit of rapid growth has brought.Erdogan, 60, won Turkey's first direct presidential election Aug. 10, extending his leadership of the country until at least 2019 . Morgan Stanley has listed Turkey among the so-called "Fragile Five" economies most vulnerable to a withdrawal of the foreign investment needed to finance their deficits.Still, Turkey's gross domestic product climbed to $820 billion last year from $233 billion in 2002 and the debt-to-GDP ratio fell to 37 percent, from almost 80 percent a decade ago. Inflation has also slowed, dropping to single digits from over 70 percent in 2002, while more than 5 million jobs have been created since 2007, according to the Finance Ministry.
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