Turkish President Recep Tayyip Erdogan has announced a reduction in electricity and natural gas prices while raising the minimum wage.
Erdogan told lawmakers from his ruling Justice and Development Party (AK Party) in parliament that electricity prices would be cut by 15 percent and gas prices for industrial customers would be cut by 20 percent in April.
Speaking to reporters after the meeting, President Erdoğan said the government plans to announce an increase in the minimum wage in the middle of the year.
The move comes as Turkey heads towards presidential and parliamentary elections on May 14.
The government last year tripled the minimum wage while increasing state salaries. Offered debt relief and increased pensions for millions to ease economic pressure on households.
Turkey’s annual inflation fell to 55.18% from a high of 85.5% in February, a significant decline.
The government in January raised the minimum wage by 55 percent for 2023, and Erdogan said it could be raised again throughout the year if needed.
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