"Although candidates' platforms for the municipal elections reflect local issues that impact the daily lives of Turkish citizens, the municipal elections can set the stage for the next presidential election."

"Polling data for the mayoral race in Istanbul has indicated a close race," between the two mayoral frontrunners, she said. The opposition is now more splintered than it was before, meaning multiple opposition candidates could split the vote. Still, she said, "the close polling data from some of the key races indicates that the CHP has significant support in these municipalities. If the CHP candidates win in major races, it would show they can overcome the political fragmentation among opposition parties."

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Read the full CNBC article by Natasha Turak here.