'Operation Olive Branch barely affects Turkish economy'

Deputy Prime Minister Mehmet Şimşek said Monday that Turkey-led Operation Olive Branch in Syria's northwestern Afrin region, has limited effects on the Turkish economy.

Speaking at an event in capital Ankara, he said Turkey has entered a new phase in its fight against terror.

"The operation is a limited and effective one. My message to investors is: there is no need to worry."

He added that the operation was Turkey's legitimate and rightful action against a terror threat which had been lurking since mid-2015.

"As our President remarked it is an operation which will strengthen Turkey in the fight against terror."

He said the operation will liberate the Kurdish, Arab and Turkmen people from the cruelty of terrorist organizations.

"When national security is in question, we do the necessary. Our budget is strong," he added.

He said the government had managed to reach its 2017 budget target despite tax reduction, adding that its budget deficit and net foreign debt's ratio to its gross domestic product (GDP) was low.

"When economic figures from Turkey are compared to other emerging countries, they appear quite strong."

He said the government will maintain financial discipline and make reforms while fighting threats.

"Turkey can do all of it easily. We will make the Turkish economy more resistant to shocks in the upcoming period through structural reforms and right policies," Simsek said.

On Saturday, Turkey launched Operation Olive Branch to remove PKK/KCK/PYD-YPG and Daesh terror groups from Afrin.

Afrin has been a major hideout for the PYD/PKK since July 2012 when the Assad regime in Syria left the city to the terror group without putting up a fight.