The country was going through difficult times and despite the measures to shore up the economy, reforms were needed, President Mustafa Akıncı has said.
Speaking at the International Nicosia Folk Dance Festival at Caglayan Park, Nicosia, the president drew attention to how the people were being affected by the devaluation of the Turkish Lira.
“We go to bed at night and we wake up in the morning to see the money in our pockets has melted away. Inflation continues to go up and those who are paying in foreign currency are experiencing serious difficulties”, he said.
The president has pointed out that the government has introduced austerity measures as part of its responsibilities so that the crisis will not affect only those on low incomes.
“We do not have to look far to see what difficult times can bring. I have been to South Cyprus and Greece for many years now. Both managed to get back to their feet mainly through cuts in public spending”, he added.
Akıncı also pointed out that the reform was needed in the public sector and that corruption and money laundering must be stamped out.