Turkish Cypriots Sliding Into Poverty

North Cyprus News - Tufan Erhurman - Leader of CTP
[CTP President – Tufan Erhürman]
Friday, 25 August 2023

Questions are being asked at the Assembly, which held an extraordinary session today. One of which was why is the government is paying 59 million euros to T&T, when school children are being taught in tents, when prescription drugs are unavailable and the country has slid into poverty, Yeniduzen reports.

T & T, who built the new terminal at Ercan Airport, are being paid 59 million euros in compensation for loss of earnings during the pandemic, it was reported. 

Locals Lack Purchasing Power

Referring to the fact that most property sales were mainly to foreign buyers, CTP leader Tufan Erhürman, addressing the Assembly today, said that the Turkish Cypriot people are in the most serious economic crisis in their history.

Erhürman said, “You all are probably aware that the purchasing power has decreased at an unprecedented rate. These people have become unable to buy a house, rent a house, or buy a car. But the truth is that despite the decrease in purchasing power, it did not reduce the total demand in the market. This is very important.

He made reference to the fact that in the Iskele, Esentepe, Tatlisu region, there is not a single Turkish Cypriot buyer. It is a completely foreign market, Erhürman said. 

Erhürman added that 50 percent of the new businesses opened in Iskele in the last year are all about brokerage. 


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