Portugal announces $2.7 bln anti-inflation package, to nix VAT on basic food goods

LISBON, March 24 (Reuters) – Porugal’s government plans to stop charging the value-added tax on essential food products, now at 6%, as part of new measures aimed at helping vulnerable families cope with soaring inflation and rising interest rates, the finance minister said on Friday.

Fernando Medina told a news conference the whole package of aid would be worth 2.5 billion euros ($2.68 billion). The government is still discussing a list of essential goods with producers and retailers, he said.

($1 = 0.9314 euros)