(MENAFN) Official figures showed that Turkey's economy grew at a faster-than-expected pace in the January-March period of 2014 at a rate of 4.3 percent over a year ago, Xinhua reported. According to the Turkish Statistics Institute (TurkStat), the country's gross domestic product (GDP) reached USD13.98 billion, increasing 4.3 percent in the first quarter. Last month, the Organization for Economic Cooperation and Development (OECD) lowered its 2014 growth forecast for Turkey from 3.8 percent to 2.8 percent, while the Turkish government projected a 4 percent growth in 2014.