July 7 was a day that will go down in Turkey’s history. Many items were hiked, including VAT, IMEI fee and credit taxes. So, what’s the pulse on social media? How did economists interpret the move?
Türkiye woke up to another morning with price hikes on July 7th. However, this time, the price hikes that will directly affect all the products sold in our country and more came into play. Value Added Tax (VAT) Increased from 18% to 20% and from 8% to 10%. Of course, this is only one of the raise items.
After the July 7 hikes, which will go down in history, social media, of course, started to talk about this history. we too reactions from both financial experts and citizens we brought together.
What do economist names say about the new hikes?
In fact, this tax hike was the one that has been voiced for a few days. Leading names of the world of economy prof. Dr. Ozgur Demirtas and Prof. Dr. Mahfi Eğilmezhad pointed out that the price hikes would come on July 5, that is, 2 days ago.
Hakan Kara, former chief economist of the Central Bank of the Republic of Turkey He also shared that the decisions taken were appropriate. But he also shared other steps to take:
How did the citizens react to the hikes?
Let’s take a look at the Threads side:
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