Turkish Cypriot economy squeezed as Lira collapses

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Turkish Cypriot economy squeezed as Lira collapses
 © FinancialMirror 2020

Economists in the north fear that Turkish Cypriots will face the full brunt of the Turkish Lira’s collapse, as their overdependence on imports and funding from Ankara leaves no room to set their own fiscal policies.

The lira continues to lose ground reaching an all-time low on Friday with the Euro traded at 8.21 TRY.

As of January this year, the TRY has lost 12% of its value compared to the pound sterling, 21% compared to the Euro and 14% compared to the USD.

The last time the Turkish Lira...


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Turkish Cypriot economy squeezed as Lira collapses


The contents of this article including any associated images are © FinancialMirror 2020
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Article Tags: turkish, cypriot, economy, squeezed, collapses,