Discussions regarding the 2024 Financial Year Budget draft law for the Turkish Republic of Northern Cyprus (TRNC) have begun at the Economy, Finance, Budget and Planning Committee

According to the draft, the 2024 budget envisages 78 billion 712 million TL expenditure, 71 billion 932 million TL revenue and a budget deficit of 6 billion 780 million TL.

The discussions on the bill started with an opening speech by the Chairman of the Economy, Finance, Budget and Planning Committee Resmiye Eroğlu Canaltay.

She said that while the State is trying to increase its revenue sources, it should also attach great importance to savings.

Stating that the TRNC economy needs to grow faster in order to overcome the problems, Canaltay said that if rapid growth can be realized, it will be possible to increase state revenues and meet obligations, and that the private sector can create healthier employment opportunities.