Istanbul: Public protests against inflation and falling living standards of citizens in Turkey

 

ISTANBUL: President Recep Tayyip Erdogan has decided to reduce food taxes amid public protests against rising prices and declining living standards in Turkey. According to international media, Erdogan said in his statement that the tax on basic food items has been increased from 8% to 1%. The president's decision will be published in Turkey's official newspaper, and will take effect on Monday.

In addition to tax cuts, Erdogan told food companies that the government expects companies to reduce the prices of their products by up to 7%, as food and drink play a key role in inflation. The Turkish president also said in his statement that if the nation is crushed under inflation, we will never allow this to happen.

 According to official data released in January, inflation in Turkey rose by 48% year-on-year, while independent analysts put the figure at more than 115%. On the other hand, critics of the Turkish government say that the reason for the rise in prices in Turkey is Erdogan's decision to cut interest rates.