World Bulletin / News Desk
Simsek's comments came after the Turkish Statistical Institute (TurkStat) announced that the economy expanded by five percent in the first quarter of 2017 compared with the same period in 2016.
"This increase in the short term is driven by measures that we took and by foreign conjuncture partially. I think, the most important point is that confidence is back in the market again. We will reinforce it through reforms. Hopefully, Turkey will follow a growth path of 5 percent and above again," he said.
In a live interview broadcast with the private television channel NTV, Simsek said domestic demand and net exports contributed 2.8 points and 2.2 points to the first quarter’s growth rate, which was better than expectations.
He said the growth rate was not only higher but also well balanced.
Growth will accelerate in the second quarter when the leading indicators are considered, he said.
"The main point is sustainability [of economic growth]. Our investment campaign will be more influential. There is a strong recovery in employment which will continue.
“Increase in credit might not continue at this pace as it is related with credit guarantee fund partially. One of the most important issue is our crucial trade partner EU. There is a recovery in the eurozone and this will speed up this year with continuation of monetary easing and support of euro's competitive situation," Simsek said.