“I was also worried in the first quarter, due to the political uncertainty,” Finance Minister Mehmet Simsek said, Bloomberg reports. “But the early economic data does not support forecasts for low economic growth.”

Turkey’s economy is expected to expand 2.2% this year after 4% growth last year. Observers believe that growth could pick up if the central bank cuts rates as political volatility eases.

iShares MSCI Turkey ETF

For more information on Turkey, visit our Turkey category.

Max Chen contributed to this article.

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