Bourse may be 90,000 after poll: Turkish Deputy PM

Photo: Bourse may be 90,000 after poll: Turkish Deputy PM 

 / Turkey

The Turkish government is hopeful that the stock exchange index, which is currently hovering around the 73,000 level, might exceed 90,000 points after the presidential elections in August, Deputy Prime Minister Bulent Arinc has said Hurriyet Dail news reported.

"The stock exchange advanced over 90,000 points, but there have been some halts that started in the Gezi incidents in June and continued with the Dec. 17, 2013 process," Arinç said April 18, speaking at the general assembly of Turkey's Milk, Meat, Food Industrialists and Producers Association (SETBİR).

Recalling the index has embarked on a recovery trend in the aftermath of the March 30 municipal elections, the deputy prime minister said "Now the question is whether it will reach the 90,000 level. It will and maybe it will surpass it, we have hope. When? After presidential elections."

The presidential elections in Turkey have been scheduled for August 10, 2014. If none of the candidates gathers 51 percent of votes in the first round, the second round will take place on August 24.

As distinct from the previous presidential elections, the Turkish president will be elected by people, but not by the parliament as of 2014, according to the results of a referendum held in 2007. The Turkish president will be elected for five-year term instead of the previous seven-year term, according to the referendum results.

Turkish opposition is expected to nominate a single candidate for the presidential elections.

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