The World Bank said the Turkish Republic of Northern Cyprus (TRNC) economy is expected to grow by 2.7 percent this year.
The bank said in a statement that the "economic performance of the Turkish Cypriot community" was assessed in the latest macroeconomic monitoring report.
The statement noted that the TRNC saw a significant recovery in 2023, with real gross domestic product (GDP) slightly above pre-Covid-19 levels.
The statement said the labor market experienced significant growth last year, with more than 9,600 new jobs created, 44 percent of which were filled by women, setting a historic record for female employment.
The statement said that inflation in the TRNC economy continued to remain significantly high in the post-epidemic period.
GDP growth is estimated to slow to 2.7 percent this year, and it was noted that strategic investments in green and digital transformation, as well as continued increases in Green Line crossings, trade and labor force participation, represent opportunities for sustainable growth .
The statement recommends decisive policy action to overcome structural challenges and thereby improve economic resilience and competitiveness, while key policy recommendations include providing emergency support to the poorest and most vulnerable, strengthening energy security, improving disaster risk management, improving private competitiveness sectors. and investing in human capital to reduce losses due to the epidemic.
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Sea voyage Kyrenia-Anamur
Since June 12, the start of sea travel Kyrenia-Anamur (a city in the province of Mersin), interest in travel continues to increase every day.New law regulating the sale of real estate to foreigners in 2024 in Northern Cyprus
It has just become known about changes in the legislation of the Turkish Republic of Northern Cyprus due to the constant increase in demand for real estate for holidays and permanent residence among buyers from abroad. There has been a lot of talk about the number of houses and lands being sold to people from other countries such as Israel, Russia, Ukraine and Iran, Kibris Türk Haber reported. This has led to proposals for new rules for the sale of real estate to foreigners. The goal is to reduce property prices and curb money laundering.Debate over the country's population
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