Government increases business and employment support to 400 million lira per month

The government of Northern Cyprus has introduced a new package of measures to support businesses and employment. Prime Minister Ünal Üstel said that the document had already been published in the official gazette and had entered into force. The new measures apply from July.

According to the head of government, the monthly amount of subsidies for social security contributions and employment support has been increased from 270 million to 400 million Turkish lira. Around 80,000 workers will be eligible for the assistance.

The programme maintains support for agriculture, livestock farming, industry, construction, transport, the hotel and restaurant business, retail, pharmacies, accounting firms, childcare centres, medical laboratories, production cooperatives, as well as professional associations, chambers and trade unions.

Additional measures have been introduced for industry, agriculture, livestock farming and the hotel sector. According to Üstel, they are intended to help businesses maintain production, continue investing and preserve jobs.

In addition, state support for the employment of citizens of the TRNC has been increased. For women, compensation for social security contributions has risen from 80% to 100%, while for men it has increased from 60% to 80%.

Employers hiring TRNC citizens for the first time under official employment arrangements will also be able to receive a monthly payment of 35,000 Turkish lira instead of the previous 20,000. The state will also fully cover their social security and pension contributions.