Turkey is expected to achieve economic growth of 5 percent to 7 percent by year-end, Prime Minister Binali Yildirim has said.

Speaking at a meeting of the Turkish Industry and Business Association (TÜSİAD) in capital Ankara, Yıldırım said: "The economy will hopefully continue growing in 2018, thanks to Turkey's achievements and stability."

He said the inflation will also go down. "We are taking necessary measures for it. These measures will be effective soon."

Yıldırım noted that Turkey left behind the scenarios that predicted the country's economy would collapse, and inflation and interest could not be controlled following last year's defeated coup attempt.

He said Turkey will continue structural reforms, tax reforms, and improve the existing investment climate as well as realize an action plan that eases the job of investors.

Yıldırım also emphasized that the private sector was the locomotive of the Turkish economy as the country's growth is heavily fostered by private sector investments. Therefore, he said, the decision-makers in politics take decisions based on this power of the real economy.