Turkish Finance Minister: Oil crisis triggered by Iran war threatens inflation plan
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Golden Ten Data reported on March 17 that the Turkish Minister of Finance stated that oil price fluctuations triggered by the Iran war could temporarily hinder the government's plan to reduce inflation. Although he mentioned that the country has taken "active measures" to limit the impact of the war on the economy, such as establishing a fuel tax mechanism to protect consumers from rising oil prices and implementing regulatory measures to stabilize market volatility, these efforts have still failed to prevent its effects. Rising energy costs are spreading across all sectors of the Turkish economy, which may weaken previous monetary policies aimed at curbing consumer demand, stabilizing the lira exchange rate, and rebuilding investor confidence.
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