Turkey allocates 1,230 billion TL to TRNC

Turkey is set to allocate about 1,230 billion TL to the TRNC’s 2018 budget reports state daily, Kibris.

According to a report by Kibris newspaper on Thursday, May, 2018, within the framework of the economic protocol signed between the prime minister Tufan Erhurman and Turkey’s Deputy Prime Minister Recep Akdag on April 19, Turkey will allocate 1,230 billion TL in total to the TRNC’s 2018 budget.

The protocol will be set into force right after it being published in the governments 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 for contributing to the budget deficit.

Kibris