Gov’t to monitor price movements instantly

Gov’t to monitor price movements instantly

Gov’t to monitor price movements instantly

The government will be able to oversee price moves instantly with a new digital system, according to a decision taken at the Economy Coordination Board meeting on April 13.

The recent development in the global supply chains and the effects of rising commodity prices on the inflation rates were evaluated at the meeting chaired by Vice President Fuat Oktay, according to a statement.

Treasury and Finance Minister Nureddin Nebati, Energy and Natural Resources Minister Fatih Dönmez, Agriculture and Forestry Minister Vahit Kirişci, Trade Minister Mehmet Muş, Industry and Technology Minister Mustafa Varank and other presidential officials participated in the meeting.

“Measures to increase agricultural output and enhancing food supply security were discussed in detail,” said the statement.
“Besides, it was decided to establish a digital system to monitor product prices instantly. Additional financial opportunities were evaluated to manage the effects of the increasing energy prices and additional measures to increase energy efficiency were discussed.”

The statement also said that ways to ease inflation rates, to improve investment environment and develop a
qualified labor force were also on the table.