Azerbaijan, Baku, March 14 /Trend/
Turkish Finance Minister Mehmet Simsek said Monday that the Turkish government held taxes on oil constant despite increasing prices of oil in the world, thus leading to an actual decrease in the amount of taxes collected on oil, Anadolu News Agency reported.
Speaking to the AA in Doha, Qatar where he is attending the meetings of the Turkey-Qatar Joint Economic Committee (JEC), Simsek said that taxes on oil melted down in the face of inflation figures.
It is now high time for others involved in oil trade to make sacrifices, Simsek said.
The profit margins in the oil industry is a serious problem...refineries, distributors and dealers. We now expect all of these groups to make reasonable profits, Simsek said.
Touching on the Turkish government's precautions against negative developments in the economy, Simsek said that more time was needed in order to see the results of the government's precautions.
The increasing prices of oil and the developments in northern Africa and the Middle East will most likely slow down the (Turkish) economy, Simsek added.