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Türkiye Raises Euro Rate for Medicine Prices by 30.5%

Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo
Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo
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Türkiye Raises Euro Rate for Medicine Prices by 30.5%

Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo
Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration taken June 30, 2018. REUTERS/Russell Boyce/Illustration/File Photo

Türkiye has raised the euro-lira conversion rate for medicine prices by 30.5% to 14.0387 lira per euro, the country's Official Gazette showed on Sunday.
The updated conversion rate is nearly half the market rate, with the lira standing at 29.9727 against the euro at Friday's close, Reuters said.
The increase in medicine prices could further stoke inflation, which is already expected to rise more this year due to the lira's depreciation and recent tax hikes introduced by Ankara. Economists are revising their end-2023 inflation forecasts to around 60% from 38.21% in June.

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Türkiye Denounces Opposition Calls for a Day of No Shopping 

Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (AFP)
Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (AFP)
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Türkiye Denounces Opposition Calls for a Day of No Shopping 

Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (AFP)
Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (AFP)

Türkiye’s government denounced opposition calls for a mass commercial boycott following the arrest of Istanbul Mayor Ekrem Imamoglu that sparked nationwide protests, describing them on Wednesday as an economic "sabotage attempt".

After the mayor was detained two weeks ago, the main opposition Republican People's Party (CHP) had called for a boycott of goods and services from companies with perceived ties to President Recep Tayyip Erdogan's government.

That call widened on Wednesday to include a halt to all shopping for one day, prompting some shops to close in solidarity with those criticizing the arrest as a politicized and anti-democratic attempt to hurt the opposition's electoral prospects.

Imamoglu is Erdogan's main political rival and the CHP's presidential candidate for any future election.

Trade Minister Omer Bolat said boycott calls posed a threat to economic stability and accused those advocating them of seeking to undermine the government.

They "are an attempt to sabotage the economy and include unfair trade and competition elements. We see this as a futile attempt by circles who consider themselves the masters of this country", Bolat said.

Vice President Cevdet Yilmaz said the calls threatened social harmony and economic stability, and were "doomed to fail".

Several cabinet ministers and pro-government celebrities, including former Germany and Real Madrid soccer midfielder Mesut Ozil, used the hashtag #BoykotDegilMilliZarar ("Not a Boycott, but National Damage") to emphasize their stance.

The calls have been led by CHP chairman Ozgur Ozel, who has encouraged the street protests that have swollen to the largest in Türkiye in more than a decade. Erdogan has called the protests "evil" and said they would not last.

Türkiye’s economy has been hit by a years-long cost of living crisis and series of currency crashes, with growth having slowed and inflation still lofty at 39% in February.

On Tuesday prosecutors launched an investigation into those advocating the boycott calls on social and traditional media.

The Istanbul chief prosecutor's office said it was probing calls that allegedly sought to prevent a segment of the public from engaging in economic activity, citing possible violations of laws against hate speech and inciting public hostility.