Turkey to allocate 1,230 billion TL to the TRNC’s 2018 budget within the framework of the economic protocol signed between Prime Minister Tufan Erhurman and Turkey’s Deputy PM Recep Akdag on 19April.
The protocol will come into force directly after it is published in the Official Gazette.
According to information acquired from Ahmet Havutcu, at the Ministry of Finance, one part of the fund will be allocated as credit and the other as grant. From the 1,230 billion, 595 million will be allocated as a credit and 635 million as a grant.
Also, 420 million TL will be allocated as credit for supporting structural reforms and 100 million TL as credit to contribute to the budget deficit.