Minister Nebati: We showed that we are fighting inflation resolutely with VAT reductions

Minister of Treasury and Finance Nureddin Nebati stated that they are determined to continue the fight against inflation within fiscal discipline and said, “We will reduce inflation in the coming period as we have lowered the exchange rate with comprehensive and innovative methods. We will enter the June 2023 elections with a single-digit inflation rate,” he said.

Minister Nebati shared on his Twitter account the February inflation figures and the steps taken in the fight against inflation.

Pointing out that inflation was effective in all developed and developing countries as a result of the recovery in global economic activity in the post-pandemic period, Nebati said, “In this process, pressures from energy and other commodity prices were especially effective in our country and that the annual Consumer Price Index (CPI) was 54.44 percent in February. We see that the Producer Price Index (PPI) has reached 105.01 percent.” shared his knowledge.

Nabati also mentioned the steps taken in the fight against inflation and continued as follows:

“We have shown that we are fighting inflation resolutely with the value added tax (VAT) reductions we made on food products and electricity recently. In addition, in cooperation with our other ministries, we continue our activities for the supervision of businesses that apply exorbitant prices and the implementation of necessary sanctions.”

Emphasizing that they are determined to fight inflation, Nebati said:

“We are determined to continue the fight against inflation with fiscal discipline in the upcoming period. It is not in our point of view to be stuck in the difficulties we experience in the face of inflation and see the event as if it will last forever. We will reduce inflation in the coming period, just as we have lowered the exchange rate with comprehensive and innovative methods. We will enter the 2023 June elections with a single digit inflation figure. Let’s not forget that with every hardship there is an ease.”

Leave a Reply

Your email address will not be published.