Abolition of Support Measures for Electricity and Basic Goods
September 25, 2024
The Cabinet has decided to abolish measures related to the electricity subsidy and the zero VAT on basic goods. Specifically, the tiered electricity subsidy and the zero VAT will be terminated from November 2024 and October 2024, respectively. This decision is based on the reduction of inflation and the decreasing trends in energy and fuel prices. The Ministry of Finance emphasizes that state intervention should be avoided to promote energy conservation.