ANKARA — A report on the economic impact of the recent Turkish municipal elections, prepared by the Justice and Development (AK) Party Deputy Chairman Numan Kurtulmuş, says that the AK Party's victory contributed approximately TL 52 billion (approximately $24.3 billion) to the Turkish economy.

The report, titled "Impact of March 30 Local Elections on Economy," said the Turkish economy has reestablished stability significantly in first two weeks of April following the fluctuations in economy preceding the March 30 municipal elections.

The report says that the value of Turkish government bonds has increased by TL 3.95 billion ($1.8 billion), while the value of short-term foreign debt stocks decreased by TL 9.27 billion ($4.3 billion). Borsa Istanbul stocks climbed by TL 26.11 billion ($12.2 billion).

Kurtulmus's report asserts that the total economic benefit, as of two weeks after the elections, amounts to TL 52.07 billion ($24.4 billion). The report asserts economic stability has increased significantly. As the AK Party increased their share of votes in municipal elections, gains in economic stability is not expected to be lost due to the upcoming presidential election to be held in August, and general elections to be held in 2015.