Rate fixing is used in some payments

The Banking Board has decided to fix the exchange rate in some payments in line with the decisions taken on the currency crisis, and to reduce the VAT rate on some goods.

The UBP-YDP-DP government announced the economic measures taken to fair the currency crisis. Banking Board President Unal Ustel said after the Cabinet meeting that it was decided to fix the exchange rate in some payments and reduce the VAT rate on some goods. Explaining the decisions taken, Ustel said that the exchange rate fixation decisions will use the exchange rate as of May 31, 2023.

The economic measures taken by the government in response to the currency crisis:

• Public administration'. '2023.
• The decision will be made to introduce a new system of installment payments and extension of payment terms for citizens who have difficulties in repaying foreign currency loans.

"VAT reduction " VAT will be reduced to zero on basic consumer goods and some organizations, including all domestic dairy products including plain sourdough, eggs, bottled water and supplies to municipalities and municipal institutions of tap water, baby diapers, vegetable oil, olives, palouse, fresh vegetables, oils used for business operations and subject to processing, diapers for the sick and elderly, pads, surgical masks, examination gloves, and all pet food.