Toros Suggests Creative Ideas to Boost The Economy

Sunday 3 April, 2022.

North Cyprus News - Fikri Toros - CTP
[Fikri Toros – CTP]
Member of Parliament Fikri Toros (CTP) has offered solutions to repair the damaged economy of North Cyprus, following the comment made by the prime minister that he is open to ideas for solving the economic crisis, Yeniduzen reported.

Toros called on the prime minister to re-evaluate the Confidence Building Measures package, which includes opening both Ercan Airport and Famagusta Port to international traffic under UN control, and to include all political parties and stakeholders in decision making.

Toros’ suggestions were as follows:

1) Immediately evaluate the Confidence Building Measures package, which includes Ercan airport and Famagusta Port, with all political parties and stakeholders in a participatory manner. Then call on the President to consult with the UN. These suggestions will give a significant impetus to tourism, industry and trade, which are the locomotives of the economy.

2) Immediately open the Famagusta and Paphos gates in Akıncılar and Nicosia, increasing circulation and relations across the Island.

3) Hold a workshop where all relevant technical details of our conversion policy to Euro indexed accounting and financial asset structure will be discussed. Invite officials from the European Commission and the World Bank, as well as our financial experts, to this workshop.

4) Ensure that necessary arrangements are included in the financial and economic cooperation protocol you will make with the Republic of Turkey in order to compensate for the inflation caused by the devaluation of TL and the losses reflected in the public finances.

5) Tax non-taxed sectors immediately.

6) Exempt the minimum wage from all taxes within the framework of comprehensive tax reform; reduce the income and corporate taxes, which are 23.50% in total, to 15%, which businesses are subject to, increase the declarations with penalty and reward mechanisms and prevent informality.

7) Carry out a comprehensive reform of incentives.

 8) Immediately reverse the brutal increases you have made to the Price Stabilisation Fund, rearrange it so that it does not exceed 30%.

9) With the additional revenues to be generated as a result of the above measures, make the additional budget law that you are persistently delaying, and pave the way for government expenditures.


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