Turkish Lira depreciated by 26-34% against foreign currency in one year, government says there is no poverty in the TRNC

The Turkish Lira has depreciated by 26-34 percent against foreign currency in the space of one year.

According to the report by Yeniduzen, this has driven up the price of consumer goods. 

The Cyprus Turkish Civil Servants’ Union KTAMS has stated that the breadline went up from 7,939 TL in April 2022 to 13,247 TL, an increase of 66.86 percent over one year.

However, the Finance Minister Alişan Şan has denied that there is poverty in the country, while ignoring the price increases from basic consumer goods, meat, fuel and bottled gas. The highest price increase has been on meat

The price of beef has doubled from 150 TL per kilo in April 2022 to 300 TL per kilo in April 2023.

Basic foodstuffs such as bread, milk and eggs have increased by between 33 and 57 percent.

Bottled water has also increased by 38.89 percent. The price of a 19 litre carboy of water rose from 18 TL to 25 TL

LGC news

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