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US dollar rapidly increases in Turkey

Report: Positive developments in Turkish economy is not expected this year

Baku. 8 June. REPORT.AZ/ Primary results held yesterday in parliamentary elections in Turkey show that the ruling Justice and Development Party (AKP) will no longer rule the country alone. AKP received 258 seats in the supreme legislative body, will have to form a coalition government.At the same time, given the uncertainty associated with the timing of early elections or a transition to a presidential system of governance, to stabilize the political situation in Turkey is projected to economic instability.

Report informs, today, on the first working day after the elections, the national currency weakened markedly in Turkey against the dollar and the euro. As a result, the dollar rose to 2,80 TRY / USD, Euro - up to 3,11 TRY / EUR. At the Istanbul Stock Exchange BIST100 index decreased by 6% to 77 000 points.

Research Group of Report believes that, Turkish lira will continue to fall and the dollar will rise to 1 3 lira, while the BIST100 index drop to 65,000.Against the background of stress in financial markets negative impact of the weak growth in the global economy on the Turkish economy will continue.As a result, positive changes in Turkish economy is not expected this year.

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