No new price hike, Minister Ergün says

ISTANBUL - Anatolia News Agency

There will be no new price hikes following the vast special consumption tax rise on gasoline, cars and alcohol, Turkish Industry Minister Nihat Ergün said yesterday.

Responding journalists’ questions at the Anatolia news agency’s “Finance Editorial Desk” meeting in Istanbul yesterday, the minister stressed that Ergün replied that individuals should not pay attention to rumors of possible price hikes.

“Decisions regarding the development of the Turkish economy are made when the right time comes. There is an economic administration in Turkey which makes rational decisions without refusal,” Ergün noted. “There is no possibility of a new price hike in Turkey today;” he also said. “There were efforts made on the issue and the results were announced two days ago. We expect revenues from the recent price hikes. Therefore, a new price hike is out of question for the moment.”