Prices of drugs in north Cyprus set to increase by 25% starting from December, 25, 2023

All drugs imported from Turkiye to the North Cyprus will increase by 25% starting from December, 25, 2023.

This was made known by former Board Member of the Turkish Cypriot Pharmacists Association and pharmacist Dicle Tekiner.

Tekiner's statement states as follows:

As of tomorrow (December 25, 2023), simultaneously with the Republic of Turkey, there will be a 25% increase in all drugs imported from Turkey. After the exchange rate adjustment made by the Presidency of the Republic of Turkey in July 2023, the value of 1 Euro used in drug payments will be updated for the first time in 5 months and increased from 14.04 TL to 17.55 TL, despite the depreciation in TL. Considering that today's 1 Euro is worth 32.30 TL, I think that the updated exchange rate will not make any positive contribution to the shortage of drugs in the market, and if the depreciation in TL continues and the exchange rates for drug reimbursements are not updated regularly, the problem will gradually grow. Companies that invested in Turkish Republic, especially from Europe, gradually started to withdraw from the Turkish market due to problems in repayments. While economic conditions have been deteriorating for months and prices for every product from needle to thread have been increased, the failure to update drug prices for months causes drug shortages that threaten public health. Although the news of the raise naturally causes a reaction in society amidst all this economic burden, it does not save health.