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Tatar and Ozersay Draw Financial Road Map

Prime Minister Ersin Tatar and Foreign Minister Kudret Ozersay had the opportunity to have detailed discussions about the Cyprus problem and the TRNC economy during their meeting with Turkish President Erdogan.

At the meeting they discussed in detail where the money, which Turkey would transfer to the TRNC, would be spent. It is said that 250 million Turkish Lira (TL) would be transferred within the next two weeks, Turkish Cypriot daily ‘Diyalog’ reports.

Issues such as the Cyprus problem, the opening of the fenced-off town of Varosha/Maraş, drilling activities in the Eastern Mediterranean and the work of the Immovable Property Commission (IPC) were discussed during the meeting.

According to Turkish Cypriot daily ‘Kibris Postasi’, PM Tatar gave the message that the flow of money from Turkey would begin according to the protocol they had signed on 20 July. Tatar said that some issues were solved during their visit. He said that President Erdogan had given instructions for the flow of money to begin. He noted that they had agreed also on the immediate commencement of the work on the protocol, which should be signed for 2020 and reached an understanding on the issue that the protocol should be prepared and signed by October when the TRNC budget would be prepared.

In statements to the paper, Finance Minister Amcaoglu said that the protocol included 156 million TL for investments, 47.5 million TL to support the real estate sector of the economy and 546,5 million TL for defence expenses, which had been previously covered by TRNC revenues.

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