TURKEY: Motor industry warns of tax hike effects - report
Turkey said on Tuesday it was hiking taxes on motor vehicles to meet IMF-backed budget targets, prompting warnings from producers that the measure could slash sales and discourage foreign investment, Reuters reported. The government, holding talks with the International Monetary Fund (IMF) in Ankara, must work hard to meet a headline primary surplus target for the 2003 budget if it is to satisfy the fund that a $US16 billion economic programme is on track, the report added.
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