Yaşar Güler appointed as Turkey's new Chief of Staff

Turkish President Erdogan unveils 16-minister cabinet

The event at parliament in the capital, Ankara, concludes the country's transition from a parliamentary system to an executive presidency, in line with the constitutional changes approved in a referendum past year.

Amir H H Sheikh Tamim bin Hamad Al Thani with Sudan's President, Omer Al Bashir and former president of Turkey, Abdullah Gul, during the inauguration ceremony of Turkish President Recep Tayyip Erdogan.

In parliamentary polls held the same day, his ruling Justice and Development Party (AKP) secured a majority through its alliance with the far-right Nationalist Movement Party (MHP).

In his message, the King said that "this re-election is a testament to the renewed confidence of the Turkish people" in the president's efforts "to advance, develop and strengthen Turkey's position" internationally.

Marc Pierini, a former European Union ambassador to Turkey and visiting scholar at Carnegie Europe, said Erdogan's new powers effectively make him a "super-executive president".

In a referendum previous year, Turkish voters approved a series of comprehensive changes that granted significantly more powers to the president, eliminated the prime minister position and increased the size of the country's parliament, to name a few.

Before Erdogan took oath for a new term in office, the government removed a clause that had stated the central bank governor was appointed by cabinet decision for five years, and could be re-appointed. The Turkish lira dropped three percent on the news, but rebounded slightly on Tuesday.

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The lira currency, which has been battered this year by concerns about President Tayyip Erdogan's drive for greater control over monetary policy, declined after the changes were published.

Erdogan appointed his son-in-law as Turkey's finance minister on Monday hours after taking his oath of office. Erdogan's supporters see the changes as a just reward for a leader who has put Islamic values at the core of public life, championed the pious working classes and overseen years of strong economic growth. He also promised to "leave behind a system that cost the country heavily because of the political, social and economic chaos it caused in the past", according to Hurriyet Daily News.

Prime Minister Binali Yildirim now goes down in history as the 27th and final holder of the post in Turkey.

Albayrak's surprise switch from the energy ministry spooked financial markets, who were also unhappy to see there was no room for outgoing deputy prime minister Mehmet Simsek, the government's pointman on the economy. "In other words, Turkey will be an institutionalized autocracy".

Erdgoan has said he will announce the cabinet on Monday night, promising to make appointments from outside parliament and to slim down his ministerial team to 16 from more than 20. He was taken hostage during the night of the failed military coup in July 2016, which was blamed on US-based opposition cleric Fethullah Gulen.

In a speech on Saturday, Erdogan said he would tackle high-interest rates, inflation and a wide current account deficit.

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