Voice Cyprus News
CyprusEconomyFeaturedLocal News

Problems are being experienced in production!


 

The depreciation of the Turkish Lira against the foreign currency has negatively affected producers in North Cyprus.
According to Bağımsız News, producers whose input expenses are indexed to the foreign currency are trying to work out how to deal with the negative situation.
Head of the Cyprus Turkish Farmers Union Mehmet Nizam stated that the input costs of producers are indexed to the foreign currency and that there are serious problems due to the decline of the TL against the foreign currency.
Nizam said that the government needs to take necessary measures.
Meanwhile, the Head of the Cyprus Turkish Animal Breeders Association Mustafa Naimoğulları who also spoke on the issue said that all the inputs of animal producers are indexed to foreign currency, adding that producers have gone bankrupt.
Naimoğulları said that producers are experiencing financial problems to replace stock as they are selling their products in Turkish Lira (TL), but are purchasing in foreign currency. Naimoğulları announced that a protest action will be on the agenda.

Related Posts
Putin promises to back North Korea in its position with the US

On Tuesday, as Vladimir Putin travelled to the nuclear-armed nation of North Korea for the first time in twenty-four years, Read more

Outdated rules for housing aid for refugees result in 25% of applications being denied

The House refugee committee heard testimony on Tuesday that the Displaced Persons Care and Rehabilitation Service rejects one-fourth of its Read more

Read This:  Cyprus plans €3.1B climate investment by 2030

Related posts

North Cyprus Night-Pharmacies (5th June 2024)

Voice İnternational

Scorching heatwave threatens to break top temperatures

AFP

The conservation works completed at two churches

The results of the Ukraine talks without Russia are mocked by the Kremlin

Reuters

Daily currency exchange rates (August 23rd, 2023)

Voice İnternational

Next trial hearing in İsias Hotel set for April 26

BRT