Turkey Adjusts Medicine Euro Conversion Amid Economic Strain

Turkey has revised the euro conversion rate for medicine prices to 21.6721 from 17.5483 lira, a 23.5% increase. This rate, considerably lower than the current market rate, will be applied to government purchases for the next year and remains fixed until 2025.

In an effort to address economic challenges, Turkey has increased the euro conversion rate for medicine prices by 23.5%, from 17.5483 to 21.6721 lira, as announced in the official gazette on Thursday.

Despite the revision, the new rate is significantly lower than the market value, where the lira stands at 36.7720 against the euro. This discrepancy highlights ongoing economic pressures on the country.

The updated rate will be employed in government purchases for 2024 and will remain constant until 2025, according to the decision. This move is part of Turkey's broader strategy to manage healthcare expenditures amid volatile currency conditions.

(With inputs from agencies.)