ANKARA Dec 1 A Turkish tax hike on tobacco and
alcohol will bring in an additional 3.24 billion lira ($936
million) in budget revenues in 2017, Finance Minister Naci Agbal
said on Thursday.
Agbal told Reuters he expected the tax hike on tobacco to
add 0.26 basis points to inflation, but that Turkey maintained
its 7.5 percent inflation target.
On Thursday, Turkey raised the special consumption tax on
alcoholic drinks and tobacco products, a move one official said
would push up prices by some 3-6 percent.
The increase coincides with a sharp decrease in the lira
currency, which is likely to stoke inflation, which at 7.16
percent is sharply above an official target of 5 percent.
($1 = 3.4619 liras)
(Reporting by Orhan Coskun; Writing by Ece Toksabay and Tuvan
Gumrukcu; Editing by Daren Butler)