Finance Minister Sunat Atun on Sunday drew attention to the importance of fighting inflation so as to preserve the public’s purchasing power.

He said that the best way to achieve that was to take the right steps, to bring stability and to regain the public’s trust.

Atun added that the price stabilization fund for alcoholic beverages had not been adjusted for a long time and that coupled with inflation, the prices had gone up.

He said that a committee had been set up at the ministry to review custom taxes.

“The state is experiencing financial difficulties as a result of the pandemic, Ukraine-Russian conflict, developments in Turkiye and neglect by the previous government. It’s vital to take steps that will increase revenues, increase efficiency, reduce expenditures and to support various sectors,” the finance minister said.

Atun said that despite the difficulties being experienced, Turkiye continued to be by the side of the Turkish Cypriot people.