North Cyprus News | Online News for North Cyprus

TRNC is 16 billion TL in debt: Denktaş

TRNC is 16 billion TL in debt: Denktaş

December 09
11:06 2016

The TRNC’s external and internal debt exceeded 16 billion Turkish lira (TL). Deputy Prime Minister and Minister of Finance Serdar Denktaş has said.

Addressing the assembly yesterday during a discussion about the budget for 2017, Denktaş said that the debt was a “bleeding wound” for the north, adding that as of the end of 2015, it had reached 16,050 billion TL, of which 5,515 billion are internal and 10,899 external debt.

The Deputy PM said that this number is equal to 157% of the regime’s GDP and that this situation affects the economy. “Therefore, controlling and decreasing public debt must be our first priority”, he added.

Denktaş noted that it is estimated that the TRNC’s economic growth will be 2.4% in 2016, 5% in 2017 and 2018 and 5.5% in 2019, adding that the average growth for 2017-19 period is estimated at 5.2%.

Kibris

 

Local Weather

Kyrenia, Cyprus
10°
16°
Tue
16°
Wed
15°
Thu
15°
Fri
Weather from OpenWeatherMap

Lira Exchange Rates

USD
USD
3.7591
EUR
EUR
4.7052
GBP
GBP
5.3090

Upcoming Events

  1. Exhibition of Turkish Cypriot Artists

    January 25 @ 9:00 am - February 23 @ 5:00 pm
  2. Whirling Dervish

    February 19
  3. North Nicosia Walking Tour

    February 19
  4. Lemar Market

    February 19 @ 10:00 am - 3:00 pm