Speaking to Anadolu Agency on Tuesday he said: "I mean [the] economy has been doing reasonably well. I think the perception internationally of [Turkish president] Erdogan is rather going to improve than worsen.”
“The performance of the Turkish stock exchange is an example," Faber -- sometimes dubbed ‘Dr. Doom’ -- added.
Turkey's benchmark index saw its highest level of all time during the day to reach 96,750.52 on Tuesday.
Stock exchange investors have earned around 24 percent on Borsa Istanbul from the beginning of the year.
Claiming the Turkish lira was undervalued but would likely strengthen, Faber said it would ultimately depend on the U.S. dollar.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.