Portugal announces $2.7 bln anti-inflation package, to nix VAT on basic food goods

Kitco Media
By Reuters
Published:
Updated:
Reuters
LISBON, March 24 (Reuters) - Porugal's government plans to stop charging the value-added tax on essential food products, now at 6%, as part of new measures aimed at helping vulnerable families cope with soaring inflation and rising interest rates, the finance minister said on Friday. Fernando Medina told a news conference the whole package of aid would be worth 2.5 billion euros ($2.68 billion). The government is still discussing a list of essential goods with producers and retailers, he said.


($1 = 0.9314 euros) (Reporting by Sergio Goncalves and Andrei Khalip)

Messaging: sergio.goncalves.reuters.com@reuters.net))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.