The economic protocol between Turkey and the TRNC for 2018 has come into effect.
The protocol provides for Turkey granting the TRNC around 2.2 billion Turkish lira (TL) in 2018, of which 212 million TL will be allocated to the real economy and 464 million TL for infrastructure projects.
Moreover, 940 million TL for supporting the reforms are included in the protocol. According to Turkish Cypriot daily ‘Kibris Postasi’, 540 million TL of this money was carried over from last year’s budget.
Finally, the protocol’s defence budget amounts to 341 million 498 thousand TL.