Former Turkish deputy PM Ali Babacan will form a new political party by the end of the year to challenge President Recep Tayyip Erdogan’s ruling AK Party, Reuters reports.
Babacan, who resigned from the AK Party in July, citing “deep differences,” was a founding member of the AKP. He served as economy and foreign minister during its first years in power before becoming deputy prime minister, a role he held from 2009 to 2015.
Along with former AKP president Abdullah Gul, Babacan has long been rumored to be planning a rival party. A stinging defeat for the party in Istanbul’s mayoral elections in June accelerated the efforts.
The ruling party had strayed from its founding principles, Babacan said.