3/27/2009

Premier Erdogan announces new economic measures

Anatolia News Agency – The Turkish Prime Minister Recep Tayyip Erdogan announced a series of new economic measures such as VAT reduction for real estate and various other products on Wednesday. Erdogan said they are lowering the VAT on business offices, shops, stores and other commercial properties, from its current rate of 18 percent down to eight percent for a period of three months, in order to boost demand in the construction sector and help construction companies reduce their stocks.