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Economy minister announces budget surplus

26 August 2017

North Cyprus News - Sunat Atun

Minister of Economy and Energy Sunat Atun, has said that with the development strategies implemented by the government, they have secured a visible increase of prosperity and stability in the country. The economy has continuously been growing for the last seven years, the budget deficits have been covered and during the first seven months of 2017 there was a budget surplus of 242 million Turkish lira (TL).

Addressing the Regional Development Summit organised by the development bank with the contribution of the Turkish embassy, Atun said that 84 million TL of this surplus derived from resources given by Turkey and 171.8 million TL from local income.

Atun noted that, excluding the resources given by Turkey, the TRNC’s budget income increased by 19.2% and that for the first time in their history, the state’s current debt was covered and current surplus was secured.

Meanwhile, in his address, Ercan Ibrahimoglu, director of the development bank, said that an Industrial Strategy Report has been prepared, with the support of the stakeholders, within the framework of combining and rationalising activities. He noted that the development bank provides technical and financial support for these activities and added that the results of the workshop that would take place after the panel, would help in producing a road map.

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