“As part of simplifying the VAT system, we are reducing VAT from 8% on basic food products to 1%. We already apply it in flour and bread,” Erdogan said.
Consumer prices surged by 48.7% in January, and food and non-alcoholic beverages inflation topped 55%.
(Reporting by Ece Toksabay; Editing by Andrew Heavens)
Photo – People go shopping at a local market in Istanbul, Turkeyt. EPA-EFE/ERDEM SAHIN
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