TRNC Finance Minister, Birikim Ozgur presented the Assembly with the budget for 2016, yesterday.
At the meeting, Ozgur said that discussions on next year’s budget will continue until 18th December and added that the budget was predicted to be 4 billion 515 million TL.
Stating that in the coming days they will sign the new economic protocol for 2016 with Turkey. Ozgur explained that the new economic protocol will include reforms aiming to create an economic structure for the TRNC which will enable it to stand on its own feet and at the same time to reduce the budget deficit.
Ozgur said that the budget deficit for 2016 will be 373,312,880 TL and added that their goal is to cover it through local resources. Ozgur added that 24.36% of the foreseen revenues in the 2016 budget derived from investments and credits from Turkey.
Commenting on the finance minister’s speech, Prime Minister Omer Kalyoncu said that the TRNC budget is the people’s budget and its aim is to increase their prosperity.
Stressing the need to produce policies which would take into account the present situation and the realities in the country, Kalyoncu said that they should not take temporary measures.
Chairman of the Democratic Party (DP) Serdar Denktas said that they are concerned about the goals of the 2016 budget and added that although his party will support steps of the government to make reforms, they will vote against the approval of the budget.
Moreover, Mehmet Cakici, representing the Social Democracy Party (TDP) said that the 2016 budget constitutes the continuation of the status quo and added that his party will oppose price increases. “We will oppose to the budget since its aim is not growth”, Cakici said and criticised the government for not making reforms and for following the wrong policies.