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Plummeting Lira Causes Huge Loss of Newspaper Circulation

Plummeting Lira Causes Huge Loss of Newspaper Circulation

August 30
09:22 2018

North Cyprus News - Newspaper Stand - 2The remarkable devaluation of the Turkish Lira against foreign currencies has led to a massive reduction in the circulation of Turkish Cypriot newspapers. This is due to the fact that the papers are buying the materials for their publications in foreign currency.

The circulation of the 20 Turkish Cypriot newspapers has reduced from 15,000 to 5,000, according to Turkish Cypriot daily ‘Nacak’, noting that many papers face deep debts. At the same time they have to compete with the online papers and the news published in various social media accounts.

The papers also writes that many newspapers are considering stopping printing their newspapers  and publishing their editions online.

Nacak, LGC News