State to Borrow 1.5 Billion Turkish Lira

North Cyprus News - Turkish Lira

Friday, 26 May 2023

The Council of Ministers has decided to borrow up to 1 billion 500 million TL from the Ministry of Finance in order to enable the state to fulfil its financial obligations, Kibris Postasi reports.

According to the decision published in the Official Gazette yesterday, “The Council of Ministers, in order to enable the State to fulfil its financial obligations, needs to borrow up to 1.500.000.000 TL (£60,800,000) in the amounts needed within the limits of the 2023 Fiscal Year Budget Law”. 

Kibris Postasi

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