Turkish President Recep Tayyip Erdogan announced, last Wednesday, that Turkey will cut natural gas prices for industrial users by 20 percent in April, ahead of the elections scheduled for May 14.
Energy prices contributed to the significant increases in the inflation rate in Turkey during the past year, before it gradually slowed down to 55.18 percent last February.
Last February, Turkey witnessed one of the worst natural disasters in its history, after a major earthquake struck several regions of the country, killing and injuring thousands.
The United Nations said this month that the damage caused by the devastating earthquake that struck Turkey and neighboring Syria in February, which resulted in thousands of deaths and injuries, would cost Turkey more than $100 billion in losses.
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