Post-Covid Poverty And Weak Lira Hits Trade

North Cyprus News - Ledra StreetThe depreciation of the Turkish lira has impacted the spending power of the Turkish Cypriots and there is no better place to see the effects on the curb of Turkish Cypriot spending than in Ledra Street, where the Turkish Cypriots used to flock, Yeniduzen reported.

Ledra Street is a main shopping thoroughfare which links North and South Cyprus by a pedestrian border crossing.

Greek Cypriot shopkeepers have commented on the serious decline of trade in Ledra Street since the Covid pandemic and its aftermath which has impoverished many. The weakness of the TL against the euro is another major cause.

Sellers of food and beverages have said that visitors have declined from 30 per day to five. Meanwhile, Jewellery, clothing and bookstore owners say that they have had no custom at all from Turkish Cypriots.

Conversely, one observer, a watchmaker who also said that he had had no more Turkish Cypriot customers, said that Greek Cypriots were less likely to spend their money in North Cyprus because of the cost of compulsory car insurance which had gone up to 180 euros.


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