Outlook rosy for Turkish economy - deputy prime minister

External factors hurting Turkey’s economy are coming to an end and a programme of reforms in the new year will revitalise investment, Deputy Prime Minister Mehmet Şimşek said.

“We are at the end of a problematic period,” he told the annual congress of the Turkish Capital Markets Association. “It is very difficult to draw up negative scenarios for the long term.”

Şimşek argued that terrorism was on the wane, currency speculators would lose interest, relations with the European Union would improve, the impact of crises in neighbouring countries would lessen and Turkish banks would be largely unaffected by the U.S. prosecution of a Turkish banker and gold trader. News that Germany was discouraging its banks from lending to Turkey was baseless, he said.

There would also be a “comprehensive” reform package introduced in the first quarter of 2018, Şimşek said.