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Government to Take 80 Million TL Bank Loan

North Cyprus News - Turkish LiraThe coalition government will take out a loan of 80 million TL from the Cooperative Central Bank as currently, it is unable to meet is financial obligations.

The Council of Ministers has decided to authorise the Ministry of Finance to obtain a loan in the amount of 80 million TL, in order to be able to fulfil its budget responsibilities.

A report by Turkish Cypriot daily ‘Gunes’, citing reliable sources, says that Turkey has not transferred money to the TRNC for its planned operating budget for this month, which is 100 million TL. The same sources say that the Turkish government is disappointed with the Republican Turkish Party (CTP), which is the majority party in the coalition government, because of its negative stance on economic issues. They also add that there is no healthy and consistent dialogue between the government and Turkey.

Gunes

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