(MENAFN) There has been an interest rate increase recently implemented by the US Federal Reserve, which could distress Turkey's economy as other emerging markets will, as the latest data shows.

Turkey's large current account deficit makes it exposed to risks and instabilities in global markets, according to its Prime Minister, adding that the year-end present account deficit is estimated to be USD38.5 billion.

However, in spite of the weak international atmosphere, conflicts in neighboring countries and terror incidents, Turkey has developed 3.1 percent in the first six months of the year.

"I hope that the elections in November would consolidate political stability, then, with an environment of trust, we will experience a different period in terms of investment and in other productive fields," said the PM.