Turkish authorities plan to take measures to reduce inflation, according to Turkish President Tayyip Erdogan, according to the Russian news agency Ria Novosti.
“Our main problem at the moment is high inflation. We will overcome that as well,” the Turkish leader said in a televised address after a cabinet meeting.
According to Erdogan, the relevant services of the country will monitor whether the reduction of VAT will affect prices and will impose the necessary sanctions on companies that do not comply with the measures.
It is recalled that the Turkish currency fell sharply in 2021 after several successive cuts in interest rates, negatively affecting the country’s financial system.
Erdogan assured that the problem of high prices and inflation in the country will be resolved soon.
Source: Capital
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