TRNC government unveils new economic package

The government of TRNC on Thursday announced its latest economic package to assist businesses struggling due to the current economic crisis.

Prime Minister Ünal Üstel unveiled the government’s latest economic package on Thursday to help businesses weather the current economic crisis triggered by the war in Ukraine and rising costs.

The new economic package includes different types of loans, worth ₺100m.

The first low interest loan which is worth ₺20m will be on offer for businesses owned by young or women entrepreneurs.

The second ₺20m loan package will be on offer for farmers, livestock breeders and companies dealing with solar panel installations.

All Businesses applying to these loan packages will have to pay back the money in 42 months with a six month grace period with 13 per cent interest.

Another package worth ₺60m is for exporters who will have to pay back 21 per cent in interest.

Other smaller loan packages are also available for smaller businesses.

Persons on social security cheques or disability salaries will also receive additional state contribution payments.

The state will also be covering social security payments of various groups and individuals.

The necessary changes have also been introduced to raise rent fees of immovable properties owned by the state and the Vakıflar Administration according to the rise in the cost-of-living increment.


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