Annual Inflation Rate Hits 38 Per Cent

North Cyprus News - Turkish LiraThe Council of Ministers has approved the amount of 7 billion, 705 million TL for TRNC budget for 2019. A deficit in the budget of 825 million TL has been anticipated.

Discussion of the budget will begin on 13 November by the relevant parliamentary committee and will end on the 27th. A plenary session of the assembly to discuss the budget will be held between 10 and 21 December.

Meanwhile the annual inflation has reached 38.13 per cent the state planning organisation (DPO)has said. The inflation rate for October 2018 increased by 1.58 per cent compared to the previous month. According to the same data, the inflation rate increased by 34.08 per cent compared to December and by 38.13 per cent compared to October of last year.

Permanent under-secretary, Odul Muhtaroglu said that an increase was recorded in the average price of 439 products included in the index and that there had been a decrease in the price of 112 products.


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