Democrat Party (Turkey, 1946–61) Democrat Party (Turkey, 1946–61) The Democratic Party (Turkish: Demokrat Parti, DP for short) was a Turkish moderately right-wing political party, and the country's third legal opposition party, after the Liberal Republican Party (Serbest Cumhuriyet Fırkası) established by Ali Fethi Okyar in 1930, and the National Development Party (Milli Kalkınma Partisi) established by Nuri Demirağ in 1945. Founded and led by Celâl Bayar, it was the first of the opposition parties to rise to power, de-seating the Republican People's Party (Cumhuriyet Halk Partisi) during the national elections of 1950 and ending Turkey's one party era. The party facilitated the resurgence of
Turkey annual current account deficit was $47.3 billion at the end of December 2017, compared to the previous year's figure of $33.1 billion. In the early decades of the Turkish Republic, the government (or banks established and owned by the government, such as Türkiye İş Bankası (1924), Sanayi ve Maadin Bankası (1925), Emlak ve Eytam Bankası (1926), Central Bank of Turkey (1930), Sümerbank (1933), İller Bankası (1933), Etibank (1935), Denizbank (1937), Halk Bankası (1938), etc.) had to subsidise most of the industrial projects, due to the lack of a strong private sector. However, in the period between the 1920s and 1950s,