The TRNC’s budget problems will ease as Turkey has transferred 100 million Turkish Lira to the government coffers.
There has been a delay in sending over the annual monies because there was a change in the system in Turkey. This held up the transfer for months.
According to information obtained by Minister of Finance Serdar Denktas, the sum of 100 million TL was transferred to the TRNC just before New Year’s Eve and this amount has covered the 2019 budget.
Denktas indicated that a new source of cash flow will take place within weeks, adding that the exact date is not known, but it will be transferred in January.