The TRNC Parliament has approved the country's budget for 2024

The General Assembly of the Turkish Republic of Northern Cyprus (TRNC) has passed the country's budget for the year 2024, amounting to 88 billion 264 million Turkish lira. Speaking in parliament, Finance Minister Ozdemir Berova stated that the budget deficit is 6 billion 785 million Turkish lira.

According to the Minister of Finance, the budget of the Central State Administration for the 2024 fiscal year had previously been approved by the Committee on Economy, Finance, and Budget.

The total budget, which is a key component of the main financial document, is envisaged at a total of 78 billion 717 million Turkish lira.

It is expected that within the overall budget, the Turkish Republic will allocate 14 billion Turkish lira, of which 9 billion TL will be in the form of grants and 5 billion as loans.

"As in every year, we would like to express our gratitude to the Turkish Republic and its competent authorities for their contribution and support," stated Ozdemir Berova.

It is worth noting that this year the budget was presented to the parliament for the first time as the "Law on the Management and Control of State Finances 41/2019" and passed through the parliamentary committee.

Also, in yesterday's parliamentary session, the budgets of the Assembly of the Republic were approved with a total of 336 million 798 thousand 600 Turkish lira, and the presidential budget with a total of 313 million 16 thousand 800 Turkish lira.

To recall, the budget discussions started in the TRNC Parliament the day before and will continue for 10 days. Deputies will convene daily on weekdays until December 22. Along with the general budget, the budgets of 35 ministries, departments, and agencies will be discussed and approved.