International Monetary Fund Director for Europe Michael Deppler says Turkey's economy is more "flexible" than it used to be.

"Turkey did not respond to a political crisis with an economic crisis last year, which suggests that the economy has evolved from weak to more flexible," Deppler, IMF Director for Europe, told an international economic meeting in Istanbul.

Deppler said Turkey was in "a much better shape" economically than it had been six years ago, citing significant improvement in privatization, transparency and "particularly banking system."