Turkish Cypriots owe €4,854 per capita

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Turkish Cypriots owe €4,854 per capita
 © In-Cyprus 2018
Personal debt in the north has reached a total of €3.384 billion for 2016, with debt per capita standing at ₺19,000 (€4,854).

The figures represent a whopping 178.4% increase in personal debt since 2010.

According to data provided by the central bank authorities in the north, personal debt in 2010 per capita stood at ₺6,759 (€1,726). In 2011 it rose to ₺8,900 (€2,273), in 2012 to ₺10,013 (€2,557). Personal debt per capital figures take off in 2013 to reach ₺16,038 (€4,097). In 2014 personal debt per capita was ₺16,267 (€4,155) and in 2015 ₺17,818 €(4,551).

Turkish Cypriot central bank in their calculations, used the population figures provided by the planning authorities in the north, which include only Turkish Cypriots.

Central bank authorities explained that they calculated the debt per capita using only figures for Turkish Cypriots, without including the numbers of other nationals living in the north, as personal loans are only given to Turkish Cypriots.


Turkish Cypriots owe €4,854 per capita


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Views & opinions expressed in this article are those of the author and/or In-Cyprus .

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