Turkey's parliament formally approves state of emergency

Turkey's parliament has formally approved the state of emergency, voting three-to-one to endorse new measures by the government in wake of a failed coup attempt last week.

The emergency measures were backed by the parliament with a vote of 346 to 115, and Prime Minister Binali Yildirim clarified after the session that the three-month state of emergency applied to the 'state and not the nation.'

"With this motion, the gangs of FETO terror movement [Fethullah Terrorist Organization] banding together within the state for years, will be wiped out. These forces targeting democracy and the future of the state will be eliminated forever," Yildirim was quoted as saying by Anadolu Agency.

According to officials, Turkey's state of emergency was similar to the measures taken by France following terrorist attacks in the country.

Under Article 120 of the Turkish Constitution, in the event of serious indications of widespread acts of violence aimed at the destruction of the free democratic order, a state of emergency may be declared in one or more regions or throughout the country for a period not exceeding six months.

Turkish President Recep Tayyip Erdogan announced late Wednesday a nationwide three-month state of emergency after Friday's failed coup.

The government said the coup was organized by followers of US-based cleric Fethullah Gulen, who is accused of a long-running campaign to overthrow the state through infiltrating into Turkish institutions, particularly the military, police and judiciary.

At least 246 people, including members of the security forces and civilians, lost their lives during the failed putsch and more than 1,530 others were wounded as they came out on the streets against Friday's attempted coup.

There have been fears that the failed coup and its aftermath may hit the country's economy as a result of which the government is pushing fast to implement restorative measures.

Moody's Investors Service has placed Turkey's credit rating on review for downgrade as the rating firm evaluates the effects of the recent coup attempt.

But Turkey's Prime Minister sought to alleviate those concerns as well.

"The Turkish economy is open to the world. As of July 15, despite the coup attempt, all economic activities continued uninterrupted as before. We saw some malicious efforts to play with the country's risk premium," Yildirim said.

"But everyone should know these ratings are of short-sighted. Whatever they do, Turkish nation shows with its capacity Turkish economy will strengthen steadfastly."

Turkey has seen strong growth performance for the last 14 years. Its Gross Domestic Product, a measurement of the amount of goods and services produced, rose 4.8 percent in the first quarter of 2016.

The government is aiming to end the year with economic growth of 4.5 percent.