President Recep Tayyip Erdogan on Monday took on greater powers than any Turkish leader for decades as he was sworn in for a second presidential term, naming his son-in-law to the key post of finance minister in a revamped cabinet.
Mr Erdogan's new position marks a transition away from a parliamentary system and the office of prime minister, which has been in place since the foundation of the modern Turkish republic 95 years ago.
The new cabinet, due to be announced at 1800 GMT, is expected to have a different look, especially after Erdogan said the government would include non-AKP figures.
Erdogan took the oath of office on Monday in the Turkish parliament, where he vowed that he would make the right use of the sweeping powers he won in a referendum previous year and sealed in a hard-fought re-election victory two weeks ago. The introduction of the new presidential system marks the biggest overhaul of governance since the Turkish republic was established on the ruins of the Ottoman Empire almost a century ago.
On the eve of Monday's inauguration authorities dismissed more than 18,000 state employees - majority from the police and army - in what the government said would be the final decree under emergency rule imposed following a failed 2016 coup.
The lira has been battered by concern about Erdogan's drive for lower interest rates and by comments in May that he planned to take greater control of the economy after the election, which he won on June 24.
"We are leaving behind the system that has in the past cost our country a heavy price in political and economic chaos", he said.
His supporters, however, insist Erdogan deserves to be empowered as president, saying he has steered Turkey through its years of economic progress while rewarding working classes in the country.
"Most powers will be concentrated in his hands, there will no longer be a prime minister, and nearly none of the checks and balances of liberal democracies will be present". The role of prime minister has also been eliminated, and the president will now be able to pick his own Cabinet. "In other words, Turkey will be an institutionalized autocracy". However, major Western leaders would not be in attendance, according to Reuters.
Erdogan will this week immediately turn to foreign policy, visiting northern Cyprus and Azerbaijan followed by more challenging encounters at a North Atlantic Treaty Organisation summit in Brussels where he will meet his United States counterpart Donald Trump and other leaders. North Atlantic Treaty Organisation member Turkey's relations with its Western allies have been strained by disputes with the United States over military strategy in Syria and by European Union criticism of Ankara's large-scale purges of state institutions, armed forces, police and media following the failed coup.
But the pro-government daily Yeni Safak wrote under the headline "historic day": "One page is closing in Turkish history and a new page is opening".
The markets will keep a close eye on economic appointments, keen to see a steady hand at the helm in a fast-growing economy dogged by double-digit inflation and a widening current account deficit. It then briefly dropped more than 1 percent after a decree removed a clause stipulating a five-year term for the central bank governor.