The lira's decline and rising food and energy prices pushed inflation to 54.4% in February, the highest in 20 years
Erdogan reduces VAT on several products
Turkish President announces cuts to value added tax on several products, including hygiene products and medical equipment, to fight the soaring inflation.
Monday 28/03/2022
The lira's decline and rising food and energy prices pushed inflation to 54.4% in February, the highest in 20 years
ANKARA - Turkey introduced cuts to value added tax on several products to fight inflation, President Tayyip Erdogan announced on Monday, including hygiene products and medical equipment.
"We have decided to reduce the VAT of products such as detergent, soap, toilet paper, napkins and baby diapers from 18 percent to 8 percent," he said.
The lira's decline and rising food and energy prices pushed inflation to 54.4% in February, the highest in 20 years.