Republican Party (Turkey) Republican Party (Turkey) Republican Party () was a former political party in Turkey Republican People’s party (CHP) which is usually credited as the founder of Turkish republic in 1923 was the oldest party in Turkey. But after the party adopted the policy of so-called left of center in the 1960s, two groups of MPs broke away from the party. The first group in 1967 founded the Reliance Party. Republican Party was founded by the second group in 1972. The party was founded on 4 September 1972. The chairman of the Party was Kemal Satır, an ex vice prime minister. But
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,